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2.25 billion dollars
addressed recent comments made by Senator Chris Murphywho raised concerns about the company’s financial support for the White House project and political groups associated with President Donald Trump.
In a post on XMurphy claimed that Coinbase was part of what he described as President Trump’s “corruption factory.”.
He pointed to the company’s donation to Fairshake, a political action committee (PAC) that supports cryptocurrency interests, and its involvement in financing the upcoming 2025 inauguration.
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He also suggested that these actions were related to a past US Securities and Exchange Commission (SEC) enforcement case, which has since been dismissed.
Murphy on accused President Trump of asking Coinbase for a large donation to pay for a new ballroom planned for the White House area. The ballroom was originally presented as a private project that would not affect the east wing.
However, recent photos showed the East Wing demolished, even though President Trump promised it would remain intact. The cost of the project has reportedly increased from $200 million to $350 million.
In response, Coinbase’s Chief Policy Officer, Faryar Shirzad, stated that the company was proud to contribute to the new ballroom through the National Mall Foundation.
He emphasized that Coinbase is he is not involved in the construction management and should not be blamed for its progress.
Recently, Shirzad argued against the idea that stablecoins pose a big risk to US banks. What did he say? Read the full story.
