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[ENTITY FILE] SUBJECT-29188 COMPANY ACTIVE
CO
// Subject

Coinbase‌​‍​​‍‌‌​‌‍‌‍​​‌‍‌‍‍‍‌‍‍​‌‌

Largest U.S. cryptocurrency exchange (NASDAQ: COIN)
Tracked Largest U.S. crypto exchange and the single biggest corporate donor to the Fairshake PAC network. Its lobbying arm shaped the GENIUS Act and FIT21 markup language and benefits directly from a federal stablecoin regime that legitimises listed-stablecoin custody.
// Editorial summary — AI-generated from public records

Coinbase Global, Inc. is the largest U.S.-licensed cryptocurrency exchange. Top corporate donor to the Fairshake super-PAC and its affiliates during the 2023–2024 cycle.

Facts on record19
Connections mapped3
Sources cited0
View on Graph → Export CSV ← Entity Directory
Stated vs Revealed
No documented contradictions on file.
[PUBLIC COST ESTIMATE]
At least $45.0M in documented public funds flow through entities connected to this profile.
$45.0MContract Value
1Money Chains
1Traced Hops
Calculation Methodology

Contract values are summed from documented money flow chains where this entity appears as a source or destination node. Amounts are drawn from USASpending.gov, FEC filings, SEC EDGAR, or LD-2 lobbying registrations.

Donor contributions aggregate documented amounts from the donor_interests table, sourced from FEC individual and PAC contribution filings.

Connected officials are elected officials in our database with a mapped relationship (lobbying, board membership, campaign contribution, etc.) to this entity.

Annualised flow represents the total documented dollar amount traced through money flow hops involving this entity. Where hop-level amounts are unavailable, the chain-level documented total is used as a conservative upper bound.

All figures are drawn from public filings. Estimates are conservative — undisclosed transactions, dark money, and vanish-point hops are excluded from totals. This is a minimum documented floor, not a ceiling.

Connection Map
Key Connections
→ Entity #29189
donor
Coinbase is among the largest corporate donors to the Fairshake super-PAC.
→ Entity #29218
lobbied-against
Coinbase publicly campaigned for the repeal of SAB 121, which constrained institutional custody of crypto assets that Coinbase competes to provide.
← Entity #32223
funder
Connection documented in FINDING-2026-009
Facts (19)
Data Freshness
Fresh Last update: 4d ago · Avg age: 4d
Confidence Tiers: Primary Source — cross-referenced government/corporate filings Pending Review — sourced but not independently verified AI Inference — analytical hypothesis from cross-referencing
✓ Verified Findings (2)
These facts have been cross-referenced and confirmed against their source material.
Verified Pending Review Evidence gap: The internal allocation of Coinbase's federal lobbying spend and Fairshake-directed c‌​‍​​‍‌‌​‌‍‌‍​​‌‍‌‍‍‍‌‍‍​‌‌ontributions across specific 2024 federal races is not itemised in Coinbase's investor disclosures.
Added: 03 May 2026
Verified Pending Review Evidence gap: Direct communications between Coinbase's policy office a‌​‍​​‍‌‌​‌‍‌‍​​‌‍‌‍‍‍‌‍‍​‌‌nd the offices of the GENIUS Act sponsors are not in the public record.
Added: 03 May 2026
Raw Filing Records (17) — unsourced metadata
Pending Review As of Q1 2026, stablecoin-related income constitutes the single largest component of Coi‌​‍​​‍‌‌​‌‍‌‍​​‌‍‌‍‍‍‌‍‍​‌‌nbase's 'Subscription and services' revenue, surpassing both staking and custodial fees.
Date: 2026-05-01 Added: 03 May 2026
Pending Review The May 2026 CLARITY Act safe harbor for 'activity-based rewards' was explicitly designed to accommodate the specific revenue-sharing architecture currently employed by Coinbase and Circle.
Date: 2026-05-02 Added: 03 May 2026
Pending Review Coinbase reported $1.35 billion in 'Stablecoin revenue' for the fiscal year 2025, a figure that represents approximately 80% of Circle's total reported distribution expenses for the same period.
Date: 2026-02-24 Added: 03 May 2026
Pending Review The technical definitions of 'activity-based rewards' in the May 2026 CLARITY Act compromise track verbatim with policy recommendations circulated by Coinbase-affiliated trade groups in late 2025.
Date: 2026-05-02 Added: 03 May 2026
Pending Review Coinbase's Q1 2026 LDA filing (submitted April 2026) reports $840,000 in lobbying expenditures, specifically listing 'Oversight of SAB 122' and 'Implementation of the GENIUS Act' as primary issue areas.
Date: 2026-04-20 Added: 03 May 2026
Pending Review The Fairshake super-PAC spent approximately $40 million in the 2024 election to successfully oppose incumbent Senator Sherrod Brown in Ohio.
Date: 2024-11-05 Added: 03 May 2026
Pending Review Paul Atkins was appointed SEC Chairman in 2026, succeeding the previous administration and signaling a shift toward 'clearer lines' in crypto asset classification.
Date: 2026-03-17 Added: 03 May 2026
Pending Review Coinbase reported total net revenue of $6.9 billion and net income of $1.3 billion for the fiscal year 2025, according to its 2026 proxy statement.
Date: 2026-04-24 Added: 03 May 2026
Pending Review Coinbase's public policy statements endorsing FIT21, the GENIUS Act, and SAB 121 repeal provide explicit criteria that correlate with Fairshake spending patterns, but no public document confirms these criteria were formally applied to internal allocation decisions.
Date: 2024 Added: 03 May 2026
Pending Review FEC reporting regulations for independent-expenditure-only committees do not require disclosure of corporate donors' internal deliberations, strategy memos, or legislator-selection criteria governing contributions to super-PACs like Fairshake.
Date: 2024 Added: 03 May 2026
Pending Review Coinbase Custody Trust Company is a New York–chartered limited-purpose trust company that competes for institutional crypto custody mandates that the SAB 121 repeal opened to traditional banks.
Date: 2024 Added: 03 May 2026
Pending Review Coinbase issues USDC jointly with Circle through the Centre Consortium framework and shares in USDC reserve-yield economics under their distribution agreement, making it a direct beneficiary of any expansion of the USDC float.
Date: 2023 Added: 03 May 2026
Pending Review Coinbase publicly endorsed and lobbied for H.J.Res.109, the Congressional Review Act resolution to rescind SAB 121.
Date: 2024-05 Added: 03 May 2026
Pending Review Evidence gap: The exact share of Coinbase's USDC-related revenue attributable to the Circle distribution agreement has not been broken out separately in Coinbase's 10-Q or 10-K filings.
Added: 03 May 2026
Pending Review Evidence gap: Internal Coinbase deliberations on which legislators to support via Fairshake have not been disclosed; the selection criteria are inferred from spending patterns rather than documented in filings.
Added: 03 May 2026
Pending Review Coinbase's policy team participated directly in markup negotiations for both the FIT21 market-structure bill and the GENIUS Act stablecoin framework.
Date: 2024 Added: 03 May 2026
Pending Review Coinbase contributed in excess of $45 million to the Fairshake super-PAC and its affiliates during the 2023-2024 election cycle, making it the single largest corporate donor to the network.
Date: 2024 Added: 03 May 2026
All Connections (3)
→ Entity #29189
donor primary since 2023
Coinbase is among the largest corporate donors to the Fairshake super-PAC.
→ Entity #29218
lobbied-against primary since 2023
Coinbase publicly campaigned for the repeal of SAB 121, which constrained institutional custody of crypto assets that Coinbase competes to provide.
← Entity #32223
funder primary
Connection documented in FINDING-2026-009
Money Flows Passing Through (1)
Documented payment chains where this entity appears as a source, hop, or vanish point. All chains →
active 7 hops ⚠ 1 vanish USD 45000000.00
Coinbase corporate treasury → Fairshake super-PAC → Senate crypto winners → GENIUS Act
Sources (0)
No sources.