Daily Management Review

Coinbase Creates ‘PAC’ To Fund U.S. Election Spending


07/22/2018


Political action committee at Coinbase comes following the announcement of refurbishing its trading technology.



On Friday, July 20, 2018, Coinbase, an exchange of crypto-currencies, made a filing public whereby revealing that it has created a “political action committee”, in short PAC.
 
The aim of PAC is to raise funds for spending on elections in the U.S. The PAC is a recent development at Coinbase and as of June 30, 2018, the new establishment of the crypto-currency exchange had a nil balance of “raised money”.
 
In the month of May 2018, Coinbase had informed that it was going to refurbish its “trading technology”, while creating a “new suite of services” aimed to grab the attention of “more institutional investors” such as “hedge funds and high-frequency trading firms”.
 
 
References:
reuters.com







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