Coinbase clears up confusion surrounding Kamala Harris’ crypto donations

The Future Forward USA PAC, which is supporting Vice President Kamala Harris’ presidential campaign, is now accepting crypto donations through Coinbase Commerce.

This comes after a clarification following comments from one of the company’s executives that initially caused confusion.

Coinbase clarifies the error

During Citigroup’s TMT 2024 Global Conference in New York this week, Coinbase CFO Alesia Haas appeared to suggest that the Democratic candidate was directly using the platform for her political contributions.

“He’s now using Coinbase Commerce to accept crypto for his campaign,” Haas told Citigroup payments director Peter Christiansen in a conversation that was recorded and reviewed by Fortune.

However, a spokesperson for the exchange has since corrected the statement, explaining that it was referring to Future Forward USA, a pro-Harris PAC, rather than the vice president’s campaign machinery itself.

“Coinbase can confirm that the Future Forward PAC has joined Coinbase Commerce to accept crypto donations,” the spokesperson said in a follow-up with CoinDesk.

While Harris doesn’t currently support crypto outright, Future Forward USA’s move may suggest an evolving position among Democrats toward digital currencies.

The Biden administration has historically been criticized by the cryptocurrency industry for what some see as an anti-crypto regulatory stance.

In contrast, his Republican opponent, Donald Trump, has actively sought and won the support of crypto enthusiasts and companies.

Future Forward USA, a hybrid campaign finance organization originally formed to support President Joe Biden, has been a major player in Democratic political financing. The group can contribute directly to a political movement or spend independently on advertising, as long as there is no coordination with the candidate.

Crypto’s growing political influence

Meanwhile, Haas acknowledged the growing influence of crypto in US politics. His company, which contributed to Fairshake earlier this year, has been actively involved in supporting pro-crypto candidates.

“We’re seeing those dollars have an impact in this election,” he noted, referring to the success of Fairshake-backed crypto-friendly candidates in 32 out of 34 races.

He also expressed optimism that Harris could play a pivotal role in shaping future crypto legislation. “She has a great chance. We’re cautiously optimistic,” hinting at her potential legislative moves, though details have yet to be announced.

Despite the PAC’s move, Coinbase CEO Brian Armstrong confirmed that the company has not directly donated to either presidential push.

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