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Speaking at the Citi Global TMT Conference, Coinbase CFO Alesia Haas revealed that while Kamala Harris' campaign isn't directly taking cryptocurrency donations, her Super PAC has embraced the digital currency through Coinbase Commerce to support her 2024 run.
Kamala Harris Super PAC Uses Crypto Donations
At Citi's 2024 Global TMT Conference in New York on September 4, Coinbase CFO Alesia Haas said that Vice President Harris has a "huge opportunity" to win over voters in the 2024 election by endorsing crypto-friendly legislation.
Fortune says that Haas went on to say that the Democratic presidential contender was "using Coinbase Commerce now to accept crypto for her own campaign," which prompted speculation that the campaign was taking digital asset donations directly.
Harris’ Super PAC Gains $163 Million in Support
The Harris campaign, according to a spokesman, is currently accepting cryptocurrency donations via the Future Forward PAC. Open Secrets reports that Harris's super PAC has collected almost $163 million to support her run against Trump, the Republican nominee, in November.
In 2020, Future Forward contributed $150 million to Joe Biden's campaign for president. It was rumored that Anita Dunn, Biden's senior adviser, intended to join the super PAC when the senator announced his intention not to seek reelection in 2024. Dunn has reportedly attended gatherings where industry leaders discuss crypto policy.
FTX Contributions to Future Forward Super PAC
In an effort to back Democratic candidates in the 2022 US midterm elections, Future Forward received contributions from FTX personnel, including the company's former CEO Sam Bankman-Fried. There is a criminal prosecution against Bankman-Fried and FTX executives, and the money of the super PAC are one of five that could be forfeited.
The 2024 US presidential and congressional elections may be influenced by political action committees' spending, according to Cointelegraph. These groups include Future Forward and the crypto-funded Fairshake PAC.
Paul Grewal, chief legal officer of cryptocurrency exchange Coinbase, which is one of Fairshake's major donors, stated that the firm was increasingly engaged in House elections, although it remained in communication with Harris and executives from Trump's campaign.
John Deaton Wins Primary With Crypto-Backed PAC
John Deaton, a Republican, won the Massachusetts primary on September 3. He has the backing of the Commonwealth Unity Fund, a political action committee that includes members of prominent figures in the cryptocurrency business. Deaton was backed by the PAC, which spent over $1.3 million. In the upcoming November election, he will be pitted against Elizabeth Warren, the current Democratic senator.
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