Future Forward PAC to accept crypto donations via Coinbase Commerce on behalf of the Kamala Harris presidential campaign
Quick Take
- The Future Forward is among the top Democratic and liberal-leaning PACs, having raised a total of $164 million in funding, according to OpenSecrets.
- It will be accepting crypto donations to help fund Vice President Kamala Harris’ run for office, a spokesperson told The Block.
The Future Forward political action committee (PAC) has onboarded with Coinbase Commerce to accept cryptocurrency donations, a Coinbase spokesperson told The Block.
Future Forward is among the top Democratic and liberal-leaning PACs by amount raised, totaling around $164 million as of Sept. 4, according to OpenSecrets. It was initially supporting President Joe Biden's bid for reelection before he dropped out of the race and is now funding Vice President Kamala Harris' campaign.
Coinbase Commerce is a payment platform that instantly settles transactions and supports a broad range of assets. The platform automatically converts the users chosen currency into the stablecoin USDC to reduce volatility, according to its website.
As of September, Coinbase Commerce accepts ApeCoin, Bitcoin, Bitcoin Cash, DAI, Dogecoin, Ethereum, Litecoin, SHIBA INU, Tether and USDC, in addition to supporting MATIC, USDC, and Wrapped Ether (WETH) on Polygon.
The Trump campaign adopted Coinbase Commerce to accept crypto donations in May, and the Biden campaign was in talks of doing so as well, The Block was first to report.
Earlier today Fortune reported that Coinbase Chief Financial Officer Alesia Haas said the Harris campaign would begin accepting crypto donations. However the Future Forward spokesperson's comments indicate that the PAC is indirectly accepting crypto donations on behalf of Harris as opposed to her campaign itself, contradicting previous reports.
Update (Sept. 4, 2024): Adds context about role the Future Forward PAC will play accepting crypto donations for the Harris campaign.
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