Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Faryar Shirzad, chief policy officer of US cryptocurrency exchange Coinbase, dismissed many of the US senator’s claims of ties to the Trump administration.
In Thursday’s X post, Shirzad he replied to criticism from Connecticut Senator Chris Murphy, who claimed on social media that Coinbase was one of the cogs in US President Donald Trump’s “corruption factory” through its contributions to Fairshake’s political action committee (PAC) and funding for the 2025 inauguration.
The senator drew a direct correlation between funding and the US Securities and Exchange Commission (SEC). cancellation of enforcement action against Coinbase that was filed during the previous administration.
In response to Murphy claim that Trump demanded “a big donation from Coinbase [his] ballroom,” Shirzad said the exchange was “proud to support the construction of a new ballroom through the Trust for the National Mall,” adding that many companies contributed to the fund.
Shirzad also pushed back against the corruption claims, saying that Fairshake was a “non-partisan” PAC and that many public donations had supported previous inaugurations.
Trump initially announced plans to build a 90,000-square-foot ballroom on the White House grounds in July, later saying the project would cost about $200 million and “would not touch” the East Wing — the historic part of the building that houses the first lady’s office.
However, photos taken last week revealed that the east wing had been completely demolished as part of the construction of the ballroom, which Trump says is now estimated to be worth $350 million.
“Note that we’re not a general contractor, so we’re not the right target if you’re not happy with how the project is going,” Shirzad said in response to Murphy.
Related: Who is Michael Selig? Trump Nominates Pro-Crypto Lawyer to Head CFTC
Both comments on social media came a few weeks after a Coinbase representative attended a fundraising dinner at the White House for the ballroom project. Other attendees included Gemini co-founders Cameron and Tyler Winklevoss and a representative from Ripple Labs.
Coinbase declined to comment on Cointelegraph’s questions about the amount the exchange contributed to the Trust for the National Mall or the demolition of the East Wing.
Coinbase’s Bigger Washington Presence Under Trump?
The ballroom incident wasn’t the first time Coinbase’s financial involvement through projects backed by the Trump administration has drawn the company into the spotlight.
In June, the change was striking displayed in the list of sponsors to celebrate the 250th anniversary of the US military through a military parade on Trump’s birthday. Coinbase’s involvement was through a one-time contribution to America250, the “nonpartisan initiative” behind the US sesquicentennial event series.
Coinbase CEO Brian Armstrong recently visited the legislature amid a US government shutdown that entered its 31st day as of Friday to discuss legislation related to the structure of the crypto market. Republican leadership originally planned to have the bill, called the U.S. Senate Responsible Financial Innovation Act, out of committee by the end of October.
As the shutdown continues with no end in sight, it’s unclear whether cryptocurrency will be a priority for Congress.
Magazine: Grokipedia: “Far-Right Highlights” or a Much-Needed Wikipedia Antidote?
