{"id":8554,"date":"2025-10-31T19:54:35","date_gmt":"2025-10-31T18:54:35","guid":{"rendered":"https:\/\/kriptodnevnik.com\/?p=8554"},"modified":"2025-10-31T19:54:35","modified_gmt":"2025-10-31T18:54:35","slug":"coinbase-defends-role-in-funding-new-white-house-ballroom-after-east-wing-demolition","status":"publish","type":"post","link":"https:\/\/sputnet.com.ng\/dnevnik\/2025\/10\/31\/coinbase-defends-role-in-funding-new-white-house-ballroom-after-east-wing-demolition\/","title":{"rendered":"Coinbase Defends Role in Funding New White House Ballroom After East Wing Demolition"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">U.S. crypto exchange Coinbase has publicly denied allegations of corruption following its financial support of a new White House ballroom project, a development that has sparked political uproar and criticism after the historic East Wing was unexpectedly demolished.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Senator Murphy Accuses Coinbase of Corruption Ties<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The controversy escalated when Senator Chris Murphy accused Coinbase of being part of what he called President Donald Trump\u2019s \u201ccorruption factory.\u201d Murphy claimed the company\u2019s donations to the pro-crypto PAC Fairshake and the 2025 inauguration were connected to the U.S. Securities and Exchange Commission dropping an enforcement action against Coinbase.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Here&#39;s an example of how Trump&#39;s corruption factory works.<br><br>1. Coinbase put $46M into elections to help Trump allies. <br>2. Sends him a huge check for his inauguration.<br>3. Trump drops SEC lawsuit against Coinbase.<br>4. Trump demands big donation from Coinbase for ballroom. Done. <a href=\"https:\/\/t.co\/kLstTHquty\">https:\/\/t.co\/kLstTHquty<\/a><\/p>&mdash; Chris Murphy \ud83d\udfe7 (@ChrisMurphyCT) <a href=\"https:\/\/x.com\/ChrisMurphyCT\/status\/1983888386508169721?ref_src=twsrc%5Etfw\">October 30, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Murphy also alleged that Trump demanded a \u201cbig donation\u201d from the exchange to finance the new White House ballroom.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Coinbase Pushes Back Against Allegations<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">In response, Coinbase chief policy officer Faryar Shirzad posted on X to reject the accusations, stating the company was <em>\u201cproud to have supported the building of a new ballroom through the Trust for the National Mall\u201d<\/em> and emphasizing that multiple companies contributed to the project.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Senator <a href=\"https:\/\/x.com\/ChrisMurphyCT?ref_src=twsrc%5Etfw\">@chrismurphyCT<\/a>. This is ridiculous. Here are the facts:<br>&#8211; Fairshake is non-partisan superpac. Ask your staff to look up the public disclosures and you&#39;ll see that FS supported multiple Democrats, including 3 of your new Senate D colleagues.<br>&#8211; Presidential Inaugural\u2026 <a href=\"https:\/\/t.co\/0PGEz3zQtJ\">https:\/\/t.co\/0PGEz3zQtJ<\/a><\/p>&mdash; Faryar Shirzad \ud83d\udee1\ufe0f (@faryarshirzad) <a href=\"https:\/\/x.com\/faryarshirzad\/status\/1983988541828034761?ref_src=twsrc%5Etfw\">October 30, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Shirzad called Murphy\u2019s corruption claims misleading, stressing that Fairshake is a nonpartisan political action committee and that corporate donations to inaugural efforts are routine across different administrations.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Demolition of the East Wing Sparks Public Backlash<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Trump originally announced the construction of a 90,000 square foot ballroom in July, insisting the East Wing would remain untouched. However, photos surfaced last week showing that the East Wing had been completely demolished during the project, which Trump now says will cost an estimated 350 million dollars, up from the initial 200 million dollars.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Shirzad distanced Coinbase from the construction decisions, noting, <em>\u201cWe are not the general contractor, so we are not the right target if you are unhappy about how the project is proceeding.\u201d<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Crypto Executives Attend White House Fundraiser<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The dispute comes shortly after a Coinbase representative attended a White House fundraising dinner for the ballroom project. High profile crypto figures including Gemini founders Cameron and Tyler Winklevoss and a Ripple Labs representative were also in attendance.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Coinbase declined to reveal how much it contributed to the Trust for the National Mall or to comment on the East Wing demolition.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Growing Coinbase Presence in Washington<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">This is not the first time Coinbase\u2019s involvement with Trump supported initiatives has drawn attention. The company was recently listed as a sponsor of America250, the organization behind the U.S. Army\u2019s 250th anniversary parade held on Trump\u2019s birthday.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Meanwhile, CEO Brian Armstrong has been navigating Washington during a prolonged government shutdown, meeting with lawmakers to advance crypto market structure legislation tied to the Responsible Financial Innovation Act.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With Congress gridlocked and the shutdown ongoing, the future of crypto legislation remains uncertain, but Coinbase\u2019s footprint in Washington appears to be growing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. crypto exchange Coinbase has publicly denied allegations of corruption following its financial support of a new White House ballroom 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