Coinbase Executive Acknowledges $300 Million Donation for Ballroom Aimed at Preserving Positive Ties with Trump Administration

Coinbase Donation to Trump's Project: Emilie Choi, president and COO of Coinbase, confirmed that the company's donation to President Trump's ballroom renovation project was aimed at maintaining good relations with the White House, stating that private industry should help update necessary buildings in D.C.

Project Details and Controversy: The $300 million ballroom project, the most significant addition to the presidential residence in over seventy years, has drawn both attention and criticism, including remarks from Hillary Clinton about the demolition of the East Wing.

Donor List and Cryptocurrency Involvement: Coinbase was listed among major corporate donors, including Amazon and Apple, contributing to the project alongside other cryptocurrency entities like Tether and Ripple.

Coinbase's Political Engagement: The company has been actively lobbying for cryptocurrency-friendly candidates and has donated over $68 million to Fairshake, a super PAC focused on cryptocurrency, during the 2024 election cycle.