Kamala Harris’ Campaign Doesn’t Accept Cryptocurrency Directly — Super PAC Does
Date: 2024-09-06 Author: Oliver Abernathy Categories: IN WORLD
Coinbase’s CFO has suggested that Vice President Kamala Harris’ campaign is accepting cryptocurrency donations through the Coinbase Commerce platform.
On September 4, Coinbase CFO Alecia Haas spoke at Citi’s 2024 Global TMT conference in New York City, saying that Vice President Harris has a “massive opportunity” to engage voters in the 2024 election by supporting crypto-friendly legislation. Haas added that the Democratic nominee is “using Coinbase Commerce to accept cryptocurrency for her campaign,” leading to reports that the campaign is accepting digital asset contributions directly.
However, a Harris campaign spokesperson said that the campaign can currently receive cryptocurrency donations through its Future Forward political action committee (PAC). The super PAC has raised more than $163 million for Harris’ campaign to defeat Republican nominee Donald Trump in the November election, according to Open Secrets.
Future Forward spent $150 million to elect Joe Biden as vice president in 2020. After Biden announced he would not run for reelection in 2024, his senior adviser Anita Dunn — who has also been involved in events discussing crypto policy — was believed to be planning to join the super PAC.
Do PACs Influence US Elections?
FTX executives, including former CEO Sam Bankman-Fried, have contributed to Future Forward as part of an effort to support Democratic candidates in the 2022 US midterm elections. The super PAC was one of five funds named that could be subject to forfeiture as part of the criminal case against Bankman-Fried and FTX executives.
Money from political action committees, including Future Forward and the cryptocurrency-funded Fairshake PAC, could influence the 2024 U.S. elections at the congressional and presidential levels. Coinbase General Counsel Paul Grewal, a major Fairshake donor, said the company is more focused on the House races but still maintains contacts with the Harris and Trump campaigns.
On Sept. 3, Republican Rep. John Deaton, backed by the Commonwealth Unity Fund, a PAC with donors from major crypto industry leaders, won his Massachusetts primary. The PAC has spent more than $1.3 million to support Deaton. He will face incumbent Democratic Sen. Elizabeth Warren in November.
