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In a recent update, Future Forward PAC will start accepting cryptocurrency donations through Coinbase Commerce for Vice President Kamala Harris’s presidential campaign. This news comes from MK Manoylov Companies, as reported by The Block.
Future Forward is one of the top Democratic PACs out there. They've raised about $164 million in total funding, according to OpenSecrets. This funding will help support Kamala Harris as she runs for office.
Future Forward PAC has teamed up with Coinbase Commerce to make it easier for people to donate in cryptocurrency. A representative from Coinbase shared this news with The Block. As of September 4, Future Forward ranks high among Democratic PACs in terms of funds raised, totaling around $164 million.
Initially, the PAC backed President Joe Biden’s reelection campaign. But after he dropped out, they shifted their support to Kamala Harris. Coinbase Commerce allows for quick transaction settlements and supports a wide range of cryptocurrencies. It automatically converts donations into the stablecoin USDC to help reduce volatility.
As of September, Coinbase Commerce accepts various cryptocurrencies, including ApeCoin, Bitcoin, Bitcoin Cash, DAI, Dogecoin, Ethereum, Litecoin, SHIBA INU, Tether, and USDC. They also support MATIC, USDC, and Wrapped Ether (WETH) on the Polygon network.
In May, the Trump campaign began using Coinbase Commerce to accept crypto donations. Meanwhile, the Biden campaign was also considering this option, as reported earlier by The Block. Today, Fortune shared that Coinbase’s CFO, Alesia Haas, mentioned that the Harris campaign would start accepting crypto donations. However, the Future Forward spokesperson clarified that the PAC would accept these donations on behalf of Harris, rather than her campaign directly. This clarification differs from earlier reports.
Update (September 4, 2024): This update provides more context about how Future Forward PAC will handle crypto donations for the Harris campaign.