Skip to main content

Coinbase has tried to portray its “Stand With Crypto” PAC as having broad grassroots support among over a million “crypto advocates”, and boasts on its homepage of nearly $180 million raised by these advocates.

Its first quarterly FEC filing reveals it has had only $13,690 in contributions from seven people since its creation. Two of them work for Stand With Crypto and two of them work for Coinbase.

#crypto #CryptoLobby #USpolitics

Stand with Crypto homepage. Headline: "If you care about crypto, it's time to prove it". Subhead "52 million Americans own crypto. And yet, crypto's future in America remains uncertain. Congress is writing the rules as we speak - but they won't vote YES until they've heard from you." $179,360,865(i) donated by crypto advocates 1,286,014 crypto advocates 215,665 policymaker contacts
FEC Form 3x for Stand With Crypto Alliance, Inc. Political Action Committee, showing a filing date of 7/15/2024, and a coverage period of 4/1/2024 to 6/30/2024.
FEC Form 3x for Stand With Crypto, showing $0 in cash on hand at the beginning of the reporting period and $13,690.18 in total receipts
#crypto #uspolitics #cryptolobby

reshared this

in reply to Molly White

Molly White
Molly White
• •

After my reporting about the falsified donations amount, the PAC added a tooltip that acknowledges that $177.8 million (99%) of the “donations by crypto advocates” are actually the multi million dollar donations by a handful of big crypto companies and their execs.

However, the site still claims that SWC has itself raised $1.48 million. Either they've raised 99% of their funds in the last 19 days, or they’re doing more funny business with the numbers they’re claiming.

https://docquery.fec.gov/cgi-bin/forms/C00876631/1798889/#SUMMARY

FEC Disclosure Form 3X for STAND WITH CRYPTO ALLIANCE, INC. POLITICAL ACTION COMMITTEE

docquery.fec.gov
⇧