Coinbase denies receiving favors from Trump administration for donations

Coinbase has directly refuted allegations that it received political favors from the Trump administration in exchange for donations, The Block reports. The response follows claims by Democratic Senator Chris Murphy, who suggested that Coinbase's political contributions influenced a decision by the Securities and Exchange Commission (SEC) to drop a lawsuit. Murphy also alleged that donations to President Donald Trump's election and inauguration pointed to a cozy relationship. Coinbase Chief Policy Officer Faryar Shirzad dismissed the claims as absurd. He stated that Fairshake, the crypto industry's super PAC, is a bipartisan group that has supported numerous Democratic lawmakers. Shirzad added that donating to presidential inaugurations is a common practice that also occurred under past administrations, including those of Barack Obama and Joe Biden.