**Coinbase Refutes Campaign Finance Violation Claims**

Coinbase's Chief Legal Officer, Paul Grewal, has denied allegations that the crypto exchange broke campaign finance laws by donating $25 million to the Fairshake super PAC in May 2024. Crypto skeptic Molly White suggested the donation occurred during active federal contract negotiations, which could be illegal.

Grewal countered on Aug. 1, stating Coinbase wasn't a federal contractor under the Code of Federal Regulations 111.51. He clarified that funds were from the Assets Forfeiture Fund, not appropriated government funds.

The Fairshake super PAC, backed by major crypto firms including Coinbase, aims to support blockchain innovation and has raised over $202 million this year.