Coinbase defends funding of White House ballroom after East Wing demolished
Coinbase defended its funding for a White House ballroom project after a senator linked it to favorable regulatory treatment.Summary
Faryar Shirzad, Coinbase's chief policy officer, responded to Senator Chris Murphy's accusations that the crypto exchange was part of a "corruption factory" due to its funding of the Fairshake PAC and the 2025 inauguration, suggesting this influenced the SEC dropping a case against Coinbase. Shirzad confirmed Coinbase supported the building of a new ballroom through the Trust for the National Mall, noting many companies contributed, and clarified that Fairshake is non-partisan. The controversy stems from the construction of a $350 million ballroom on White House grounds, which involved the complete demolition of the historic East Wing, a fact revealed after a Coinbase representative attended a fundraising dinner for the project. Shirzad deflected direct responsibility for the demolition's execution, stating Coinbase was not the general contractor.
(Source：Cointelegraph)