Activity tagged "Stand With Crypto"

Posted:

Coinbase has tried to portray its “Stand With Crypto” PAC as having broad grassroots support among over a million “crypto advocates”, and boasts on its homepage of nearly $180 million raised by these advocates.

Its first quarterly FEC filing reveals it has had only $13,690 in contributions from seven people over the most recent three-month period. Two of them work for Stand With Crypto and two of them work for Coinbase.

After my reporting about the falsified donations amount on the Stand With Crypto homepage, the PAC added a tooltip that acknowledges that $177.8 million of the “donations by crypto advocates” are actually the multi million dollar donations by a handful of big crypto companies and their executives.

However, they still claim that $1.48 million was raised by Stand With Crypto itself. Either they've raised 99% of their funds in the last 19 days, or they’re doing more funny business with the numbers they’re claiming.

Posted:

Coinbase’s “Stand With Crypto” PAC claims to have raised $87 million, but their donations list totals up to only $1,176,900. They seem to be double-counting corporate contributions to super PACs to overstate how much their “community” supports this supposedly grassroots project.

Screenshot: $87,186,950 donated by crypto advocates
Our community See how our community is taking a stand to safeguard the future of crypto in America. Donations to Fairshake, a pro-crypto Super PAC, are not included on the leaderboard. Recent activity Top donations 1 position 1 medal MoonPay profile picture MoonPay $1,000,000.00 2 position 2 medal ENS avatar for toshibase.eth toshibase.eth $20,000.00 3 position 3 medal Generic profile picture for anonymous user geminifrontierfund.eth $15,000.00 4 ENS avatar for barmstrong.eth barmstrong.eth $11,774.37 5 Generic profile picture for anonymous user wwarren.eth $10,049.30 6 Generic profile picture for anonymous user Anonymous $10,000.00 7 Generic profile picture for anonymous user 0x...37e02 $8,951.84 8 Generic profile picture for anonymous user 0x...ede10 $7,174.67 9 Generic profile picture for anonymous user Anonymous $5,000.00 10 ENS avatar for warpie.eth warpie.eth $3,500.00

The list trails off at donations of $44.67, so there could be additional smaller donations not shown on the page, but not more than $85 million’s worth.

The Stand With Crypto PAC was registered just days after the April quarterly filing deadline, so they have not yet had to file any receipts with the FEC.