Kamala Harris’s campaign has begun employing Coinbase to take crypto contributions.
This move shows a change in the Democratic strategic view on digital currency.
Future Forward PAC recently teamed up with Coinbase to support Harris’s fundraising efforts.
Kamala Harris, the U.S. Vice President and Democratic presidential nominee, has started allowing crypto donations through Coinbase business. This move signals a substantial change in the Democratic Coalition's strategy in relation to digital money. Coinbase CFO Alesia Haas shared this news during Citi’s 2024 Global TMT Conference in New York, showing a new direction in its charity.
Harris Uses Digital Currency for Campaign Donations
Kamala Harris’s campaign has adopted Coinbase commerce to receive cryptocurrency contributions. This platform, which started in 2018, lets merchants take payments in various virtual money. Harris’s decision to use this method could change how political races are funded and might draw in a new group of tech-savvy donors who prefer digital currencies.
https://twitter.com/WuBlockchain/status/1831507305009131717
Alesia Haas, Coinbase’s CFO, talked about this integration with Citigroup’s director of payments, Peter Christiansen. Harris’s use of Coinbase Commerce is a big step in political fundraising. Yet, Harris’s official fundraising website does not currently show any options for cryptocurrency donations. This raises questions about how committed the campaign is to using crypto.
Future Forward PAC Teams Up with Coinbase Commerce
In addition to Harris’s campaign, Future Forward, a super PAC supporting Harris, has also joined with Coinbase Commerce. This partnership became official after the PAC raised $50 million in June to back Harris’s campaign. Although Future Forward is tied to Harris, there are still few details on how they are using cryptocurrencies.
This partnership could mean that digital currencies are becoming more accepted in political fundraising. Adding cryptocurrency donations might open up new ways to raise money and reach more donors. However, how this strategy will affect the campaign’s overall fundraising is still unclear since not much information has been provided.
Crypto’s Role in Political Campaigns
The Democratic Party has been cautious about using cryptocurrencies under President Joe Biden. However, Harris’s choice to accept crypto donations could show that this is starting to change. It might also reflect a larger trend of more sectors adopting cryptocurrency.
Coinbase CEO Brian Armstrong has stated that the company has not given money directly to any presidential campaign. So, Coinbase remains neutral while letting its platform be used for political donations. This neutrality shows that Coinbase is more of a tool than a player in political fundraising.
Despite these announcements, advocacy group Crypto4Harris said they didn’t know about any cryptocurrency donations in Harris’s campaign. This raises the key question: How will Harris’s campaign use cryptocurrency in the evolving world of political fundraising?
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