Is Coinbase Planning To Back Kamala Harris? CLO Paul Grewal Shares Hint

The role of Coinbase Global Inc is becoming very obvious in the American political landscape where sentiment around Donald Trump and Kamala Harris is rising. Speaking on Bloomberg TV, the exchange’s CLO Paul Grewal has hinted at the likely disposition of the company toward the two political candidates.

Will Coinbase Back Kamala Harris?

During the interview, Paul Grewal did not reveal exactly that the firm will back the DNC Candidate. However, he spoke in a more conservative tone about her. This is despite her role in the current administration, known for its anti-crypto stance. Grewal noted that while Trump’s camp has displayed more explicit support for cryptocurrency, Harris’s team is now showing interest.

They have even begun discussions about what a new approach to crypto and digital assets might look like under a potential Harris administration. Furthermore, the Coinbase CLO expressed optimism about the openness of Harris’ campaign. He cited the interest in exploring different strategies for the crypto industry amidst the current administration’s focus on regulation by enforcement.

While there is no certainty, the Coinbase executive’s statements suggest that his firm may back the Vice President. It is worth nothing that some key crypto industry players including Coinbase are yet to donate towards Trump’s campaign. However, they have not also done same for the DNC candidate.

Crypto Leaders Targets Digital Asset-Friendly Government

With the rise of pro-Crypto Super PACs like Fairshake, the resolve to shape DC politics in favor of Web3 is growing. With Coinbase now recognized as one of the major donors to Fairshake, its take might carry intense weight in the coming election. Its action and lobbying effort may eventually bear good yield for the crypto exchange and invariably, for the broader market.

Already, certain crypto fans have stated that Coinbase is representing the interest of millions of Americans. These are those entities who want continuous access to digital assets.

In the long run, all the US exchange and other crypto leaders are after is an administration that prioritizes legislations that offers clarity to crypto regulations. Much more, they yearn for a government that will provide legitimacy to the crypto ecosystem in the region.

Most of the actions of the current administration has been to crackdown on crypto. The US SEC recently issued a Wells Notice to OpenSea, a top NFT marketplace.