- Coinbase Commerce CFO affirms a new deal with Future Forward PAC.
- Political donations can be made in Bitcoin, Ether, and alts.
- Donald Trump edges over Kamala Harris in prediction polls by over 5%.
As the United States presidential candidate race escalates, Democrat Kamala Harris has reportedly opened up crypto donations. This was announced by Alesia Haas, Coinbase’s Chief Financial Officer (CFO), in an interview with Citigroup’s Peter Christiansen at the 2024 Global TMT conference, first published by Fortune.
Coinbase to Oversee Kamala’s Donations
However, there’s a slight misconception that the crypto fundraiser is organized directly by Harris’ campaign when, in reality, the entity behind this move is the Future Forward political action committee (PAC). Coinbase Commerce confirmed that they would oversee donations for the Future Forward PAC, one of the top sources for Harris supporters.
By using Coinbase Commerce as a donation payment gateway, the Future Forward PAC opens the doors for cryptocurrency donations to Kamala Harris in several popular cryptos, including Bitcoin (BTC), Ethereum (ETH), LiteCoin (LTC), Polygon (MATIC), and established stablecoins, such as Tether USD (USDT) and Circle’s USD Coin (USDC).
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Moreover, a selection of popular meme coins like ApeCoin (APE), DogeCoin (DOGE), and Shiba Inu (SHIB) are available to donate, making the fundraising process equally accessible to BTC maxis and meme coin enthusiasts. Ultimately, the move to accept crypto for donations solidifies the Democratic party’s plan to warm up to crypto, as the complicated relationship has left many left-leaning crypto aficionados on edge.
Donald Trump Extends Lead Over Harris
While introducing a Coinbase Commerce-powered crypto donation campaign is likely to change the crypto electorate, it bears mentioning that most crypto enthusiasts still lean toward Republican candidate Donald Trump. According to Polymarket’s 2024 election forecast, Trump remains the favorite, distancing himself from Harris by over 5%.
Harris has never voiced her opinion about blockchain technology, despite her outspoken fans creating a Crypto4Harris digital town hall just a few weeks ago. A few months earlier, Harris also turned down the invitation to speak at the Bitcoin 2024 conference in Nashville.
Naturally, the decision to dodge this major blockchain event has infuriated many politically active crypto enthusiasts, who have started questioning the sincerity of Harris’ plans to reset the relationship between the Democrats and crypto.
Trump’s rise to prominence in the crypto sector was strengthened by numerous crypto figures showcasing their support, including a $1 million Ethereum donation by Kraken’s founder, Jesse Powell.
Declaring himself “The Crypto President,” Trump netted a substantial $12 million in crypto donations in June 2024.
Moreover, the Republican candidate is known for his ventures into crypto, including four non-fungible token (NFT) collections, a venture into self-styled meme coins, and a new decentralized finance platform dubbed World Liberty Finance (WLFI).
On the Flipside
- Future Forward USA is a hybrid political action committee (PAC) that can directly contribute to Kamala Harris’s campaign or produce an independent advertising campaign.
- Donald Trump has previously called Bitcoin “a scam” and the crypto sector “not real money.” In 2023, right before launching his first digital collectible set, the 45th president switched his stance.
Why This Matters
Both major political parties in the United States have softened their stance on crypto, hoping to win back the crypto electorate votes. As blockchain technology becomes a hot topic in the political scene, the discussions are pivotal for swift crypto adoption and cohesive legislation.
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