Coinbase Forms A PAC

U.S.-based crypto exchange, Coinbase ($COIN@US), has registered a political action committee with the Federal Election Commission. The platform is jumping into the political fray as lawmakers discuss regulation for cryptocurrencies along with broader changes to the financial landscape. The Federal Reserve plays a large part in the fluctuation of markets, and it appears that Coinbase doesn’t want to be left out of the conversation. The firm has spent $1.5 million on federal lobbying in the last year, with $740,000 spent in the 4th quarter alone. A spokesperson released a statement, noting in part that, “Coinbase is committed to engaging with policymakers and to promote crypto-forward policy at the federal level in the U.S. WE believe the bipartisan potential is clear and we intend to support crypto-forward lawmakers who align with our mission to advance economic freedom for all Americans.” At press time, Coinbase stock was trading at just under $209 per share after increasing almost a percent in early trading.