{"id":56124,"date":"2025-11-01T13:01:35","date_gmt":"2025-11-01T13:01:35","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=56124"},"modified":"2025-11-01T13:01:35","modified_gmt":"2025-11-01T13:01:35","slug":"senator-calls-coinbase-a-corruption-factory-the-exchanges-clo-fires-back","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=56124","title":{"rendered":"Senator Calls Coinbase A \u2018Corruption Factory\u2019 \u2014 The Exchange\u2019s CLO Fires Back"},"content":{"rendered":"
\n

Coinbase\u2019s top lawyer and a US senator traded fierce public claims this week, putting the exchange at the center of a fresh political fight over campaign donations and regulation.<\/p>\n

Allegations Of Political Payoff<\/h2>\n

According to Senator Chris Murphy, Coinbase gave $46 million to support US President Donald Trump<\/a> and that the payment was tied to regulatory decisions, including the handling of an SEC lawsuit against the exchange.<\/p>\n

Murphy said the money included a large donation for Trump\u2019s inauguration. He framed this as an example of what he called \u201cTrump\u2019s corruption factory.\u201d<\/p>\n

Paul Grewal, Coinbase\u2019s Chief Legal Officer, answered quickly on X, calling the charges \u201cmisinformed\u201d and \u201cfalse.\u201d<\/p>\n

He told Murphy to \u201cdo your homework,\u201d and said Coinbase has pushed for clearer rules rather than favors<\/a>. Grewal argued that the problem was not with the company\u2019s actions but with how the SEC dealt with the case.<\/p>\n

He pointed out that Coinbase was allowed to go public and that a federal court later found the SEC\u2019s denial of Coinbase\u2019s rulemaking petition \u201carbitrary and capricious.\u201d<\/p>\n

\n

Here\u2019s an example of how Trump\u2019s corruption factory works.<\/p>\n

1. Coinbase put $46M into elections to help Trump allies.
\n2. Sends him a huge check for his inauguration.
\n3. Trump drops SEC lawsuit against Coinbase.
\n4. Trump demands big donation from Coinbase for ballroom. Done. https:\/\/t.co\/kLstTHquty<\/a><\/p>\n

\u2014 Chris Murphy \"\ud83d\udfe7\" (@ChrisMurphyCT) October 30, 2025<\/a><\/p>\n<\/blockquote>\n

Coinbase Pushes Back<\/h2>\n

Coinbase has highlighted its recent business moves while denying wrongdoing. Based on reports<\/a>, the firm announced a tie-up with Citigroup to make stablecoin payments easier for clients.<\/p>\n

\n

What was corrupt was allowing us to go public \u201cin the public interest\u201d and then suing us. What was corrupt was what the Third Circuit held was an arbitrary and capricious denial of our request to to get basic rules for crypto. What was corrupt was a campaign decried by another\u2026 https:\/\/t.co\/mla5emrEfI<\/a><\/p>\n

\u2014 paulgrewal.eth (@iampaulgrewal) October 31, 2025<\/a><\/p>\n<\/blockquote>\n

It also agreed to work with Figment to expand staking services for Solana, Cardano, and Sui networks. Those partnerships were presented as proof the company is focused on growth and compliance.<\/p>\n

Grewal said regulatory uncertainty has hurt the industry more than any single firm. He blamed the SEC\u2019s prior approach for creating confusion, and he used the court ruling to underline that point. At the same time, he insisted the company did not seek political favors.<\/p>\n

<\/p>\n

Legal Critics Weigh In<\/p>\n

John Deaton, a lawyer known for representing XRP holders, joined the criticism of the SEC. He said it was inconsistent to let Coinbase list publicly and then later claim some of its services were unlawful.<\/p>\n

Deaton accused former SEC Chair Gary Gensler of following political pressure to push an \u201canti-crypto agenda.\u201d He also noted Senator Elizabeth Warren\u2019s hardline stance toward crypto.<\/p>\n

Deaton argued that singling out Coinbase while ignoring the earlier IPO approval suggested selective enforcement.<\/p>\n

Industry reaction has been mixed. Supporters of the exchange say the charges are politically driven. Skeptics want clearer evidence about donations and direct influence on regulatory choices.<\/p>\n

Public records on campaign giving and event donations were referenced by both sides during the dispute, but a clear trail linking the $46 million claim to regulatory outcomes was not provided in public comments.<\/p>\n

On Fights & Tough Rules<\/p>\n

This fight comes as Washington debates rules for cryptocurrencies and exchanges. Some lawmakers want tougher oversight. Others call for more predictable rules so businesses can plan.<\/p>\n

Featured image from Shutterstock\/Nadezda Murmakova, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Coinbase\u2019s top lawyer and a US senator traded fierce public claims this week, putting the exchange at the center of a fresh political fight over campaign donations and regulation. Allegations Of Political Payoff According to Senator Chris Murphy, Coinbase gave $46 million to support US President Donald Trump and that the payment was tied to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-56124","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/56124","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=56124"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/56124\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56124"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56124"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56124"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}