As 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.
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Molly Whitereplied to Anxious Frances Nation Voted last edited by
@fsnatio My understanding is that there is a loophole with respect to individual contributions by people affiliated with or employed by companies that hold government contracts.
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@molly0xfff I don’t understand what there is to “review.” Either they broke the law or they didn’t.
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@heafnerj more details about the process here: https://www.fec.gov/legal-resources/enforcement/complaints-process/how-to-file-complaint-with-fec/
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@molly0xfff Microsoft is also a federal contractor and has its own PAC, how does that work?
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@magni would depend on the specifics, but there are a lot of loopholes. which pac are you referring to?
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@molly0xfff check out this article about it. I am sure there are loopholes https://www.cnbc.com/2021/01/22/microsoft-president-brad-smith-defends-mspac-to-employees.html
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@magni many. including that employees of companies that hold federal contracts are allowed to contribute, which at a glance appears to be the case with MS
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@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.
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@Blort they’ve been focused on congressional candidates
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@molly0xfff we should make it illegal...
Did you check how much $$ Google, Meta and others gave #kamalaharris ?
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@molly0xfff I hate to ask but what is Coinbase being federally contracted to do
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@aburka custody and asset management services for the US Marshals’ stash of crypto
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@molly0xfff ok that's not as bad as I was thinking
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@molly0xfff This sounds a bit like what the gun lobby did to change the laws.
