Coinbase’s agreement to a joint stipulation with the SEC, resulting in the dismissal of a civil enforcement action, is interpreted as a cooperative regulatory engagement. This move aligns with efforts to reset regulatory approaches in the crypto industry and, despite the potential risks of regulatory capture, is seen here as a moderate positive from an anti-fascist perspective due to its contribution to enhanced transparency and a more inclusive policymaking process.

SEC Announces Dismissal of Civil Enforcement Action Against Coinbase

The report details a striking increase in Coinbase's lobbying efforts to influence crypto regulatory policy. From a modest $80,000 in 2017 to $2.86 million in 2023, such an aggressive escalation raises concerns about corporate attempts to sway political decision-making in favor of business interests, potentially undermining democratic oversight and prioritizing profit over public accountability.

Coinbase's Lobbying Surges 3,475% Amid Regulations

Coinbase's $25 million donation to crypto-friendly political action committees represents a significant exercise of corporate political influence. From an anti-fascist perspective, such large-scale contributions can undermine democratic accountability and contribute to a political system where corporate interests can overshadow grassroots and community needs.

Flood of Cash From Coinbase Gives Crypto One of the Biggest Campaign War Chests

Coinbase’s legal challenge against the SEC’s regulatory authority is interpreted as an effort to resist robust oversight mechanisms that protect the public and market integrity. By contesting the SEC’s actions—despite the ruling upholding regulatory enforcement—Coinbase positioned itself against a framework aimed at safeguarding consumers and maintaining accountability, resulting in a negative score within the realm of executive political engagement.

Judge’s New SEC V. Coinbase Ruling Raises U.S. Crypto Policy Questions

CEO Brian Armstrong’s personal donation reinforces the corporation’s direct involvement in political financing. Such executive-level engagement in political contributions deepens concerns about the influence of corporate power on shaping policy in favor of private interests at the expense of democratic values.

Coinbase and Ripple fuel PAC for crypto-friendly US policy - Cryptopolitan

Coinbase's increased lobbying activities, including hiring established lobbying firms and engaging in contributions to dark money political groups, raise concerns about the use of corporate influence to sway public policy. This behavior undermines democratic accountability by prioritizing corporate interests over transparent, equitable political processes.

Coinbase grows its lobbying footprint - POLITICO

The personal contribution of $1M by Coinbase CEO Brian Armstrong highlights executive-level political engagement. This move, while supportive of the company’s pro-cryptocurrency agenda, also raises concerns about the role of corporate executives in directly influencing political processes, which can contribute to an imbalance in democratic participation.

Coinbase Donates $25M To Crypto Super-PAC Fairshake, Ripple Gives $20M

Coinbase’s heavy lobbying spending—even with a 15% reduction—signals a continued reliance on influencing regulatory processes. While their support for the Infrastructure Investment and Jobs Act aligns with progressive infrastructure policies, the excessive use of corporate lobbying resources still raises concerns about disproportionate corporate influence over democratic policymaking.

How Coinbase, Binance, and Kraken boosted crypto lobbying amid $24m push on Capitol Hill

By partnering with ICE and providing advanced blockchain surveillance tools, Coinbase is directly enabling government monitoring of blockchain transactions. This enhances state surveillance capabilities and contributes to authoritarian practices, as it can be used to track individuals without their consent, even if the data provided is technically from public sources.

What Coinbase’s Partnership With ICE Says About Bitcoin Surveillance