Molly WhiteAs an active federal contractor, Coinbase is prohibited from making political contributions, including to super PACs. This makes $50 million that they have contributed in violation of pay-to-play laws for contractors.
See my reporting on their previous violation, which is being reviewed by the FEC: https://www.citationneeded.news/coinbase-campaign-finance-violation/
Coinbase appears to have violated campaign finance laws with a $25 million super PAC donation
Actively involved in contract negotiations with a federal government agency, Coinbase was likely prohibited from making its $25 million contribution to the Fairshake cryptocurrency-focused super PAC in May 2024.
The $50 million is just their illegal contributions, by the way. Coinbase has spent around $75 million on this election cycle in total.
azninsect@molly0xfff insane the FTC havent been able to squash these idiots for this yet
Blort™ 🐀Ⓥ🥋☣️
SouprMatt@molly0xfff Considering how lax federal election funding laws are, it takes some seriously bad behavior to actually break those laws.
Andreas K@mls14 @molly0xfff Don't worry, the Feds are not enforcing these lax laws in the election period (funny how it's almost always some election period in the USA), so they don't interfere with the election (well the criminals breaking the law are allowed to interfere with the election, fancy logic?), only after the election ⇾ so the winner decides if something is even worthy an investigation.
If that's not a pro-corruption environment, how would you design it to be more pro-corruption?
KraigThe pervasive and obvious corruption is as bad — maybe worse? — than any mafia.
This last 10 years (ie Trumpification of the GOP) have really exposed how brittle, broken, and downright incompetent the American govt and institutions really are.
How ill-equipped and ill-designed those institutions — and people — are to deal with the power of wealth (eg musk, Murdoch, etc), casual lawlessness, and willful malfeasance (eg Fox News, Jan 6, Supreme Court, etc).
webstech@molly0xfff This sounds a bit like what the gun lobby did to change the laws.
GadgetGav@molly0xfff Between them and Musk it’s like there’s no such thing as illegal money in elections any more. ☹️
@molly0xfff Is it known which candidate Fairshake is promoting as being "more crypto friendly"? I'm guessing it's Trump, but I'd be curious to know.
@Blort they’ve been focused on congressional candidates