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FEC Snoozes Through the Election While Allegedly Illegal Coinbase Spending Reaches $50M (www.commondreams.org)

submitted 2 weeks ago by [email protected] to c/[email protected]

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Yesterday, Coinbase CEO Brian Armstrong pledged another $25 million to the crypto super PAC Fairshake, bringing the company’s total spending in the 2024 election up to more than $76 million. Public Citizen, along with researcher and author Molly White, submitted a complaint to the FEC in August alleging that a large portion of these contributions are illegal because Coinbase is a federal contractor (and federal law bars campaign contributions to political parties, committees, or candidates from federal contractors). The FEC has not yet responded.

Public Citizen research director Rick Claypool released the following statement in response to the news: "Coinbase has spent more than $50 million in what appears to be illegal campaign contributions from a federal contractor to attack candidates who might stand up to Big Crypto; meanwhile, the FEC is snoozing through the election. The time to hold campaign finance violators accountable is now — not after illegal election spending has corrupted our democracy."

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[–] [email protected] 3 points 2 weeks ago* (last edited 2 weeks ago)

Kinda sad to see Katie Porter at #1 with over $10m while the next closest candidate is just under $3m.

Edit - Having only known her for the charts she makes to school Republicans I had no idea she earned her law degree under Professor Warren (when she was teaching at Harvard), and was later given the position of monitor for a nationwide bank mortgage settlement by Harris when she was AG of CA. Small world.