Coinbase, a leading cryptocurrency exchange, has made a significant contribution of $25 million to the pro-crypto federal super political action committee (PAC) Fairshake. This donation is part of Coinbase's efforts to bolster candidates who advocate for pro-crypto policies in the upcoming elections.

In a blog post on Monday, Coinbase expressed its commitment to achieving regulatory clarity for the cryptocurrency industry. The company believes that supporting pro-crypto candidates from both major political parties is essential to advancing favorable legislation and defending the rights of crypto users.

Highlighting the bipartisan nature of its approach, Coinbase emphasized that its support for candidates is not biased towards any particular political party. The exchange noted that ownership of cryptocurrencies is distributed relatively evenly across party lines, reflecting the broad appeal of crypto assets.

Coinbase also announced its support for Standwithcrypto.org, a grassroots organization advocating for pro-crypto legislation. The organization has garnered nearly 1 million signatures and has identified key races and candidates who align with its goals.

Fairshake, as a super PAC, is restricted from directly donating funds to political candidates but can run advertisements on their behalf. Notably, Fairshake has already released ads opposing certain candidates, such as California senate candidate Katie Porter.

Coinbase's donation to Fairshake comes shortly after Ripple and the crypto venture firm a16z each contributed $25 million to the PAC, significantly increasing its financial resources. With a reported total of around $160 million in funds, Fairshake now stands as one of the best-funded super PACs in the country, according to data from Open Secrets.

The growing prominence of cryptocurrency in political discourse underscores its significance as a key issue in this year's elections. Former U.S. President Donald Trump's acceptance of crypto campaign donations and pledges to protect self-custody, as well as the Biden campaign's engagement with the crypto community, highlight the increasing influence of crypto-related policies on the political landscape.