Coinbase's "Stand With Crypto" PAC website is now confirming what I reported earlier.
More than 99% of the amount they claimed was raised by this supposedly "grassroots" PAC is in fact massive corporate contributions to the FairShake super PAC.
#RyanSelkis, a #cryptocurrency exec, was eating dinner at Mar-a-Lago last month when he got an unexpected invitation: #Trump wanted him to come to the stage & say a few words.
#Selkis, who runs the crypto data firm #Messari, was at an event for Trump’s #NFTs.
“There’s 50 million crypto holders in the US. That’s a lot of voters,” Selkis declared.
…voters’ supposed passion for #crypto may be less important than the industry’s #campaign#WarChest. #Ripple, #Coinbase & the VC firm #AndreessenHorowitz have each donated ~$50M to the crypto #PACs, which plan to spend those funds in several competitive #Senate races. In March, the largest #PAC, #Fairshake, spent ~$10M on attack ads against Rep #KatiePorter, a Dem candidate in the Cali Senate primary who was allied w/ Senator #ElizabethWarren, a longtime crypto critic. Porter lost her race.