Coinbase Chief Legal Officer Responds to Molly White’s Latest Complaint: Confiscated Crypto Assets Are Not Funded by Congress

In response to the latest complaint filed by cryptocurrency critic Molly White and consumer rights group Public Citizen to the Federal Election Commission, Coinbase Chief Legal Officer Paul Grewal responded on X: "The confiscated crypto assets are not congressional appropriations. There is nothing new about a complaint filed to the Federal Election Commission by a person claiming to be a cryptocurrency critic and director of research at Public Citizen, but it is worth noting that there is no minimum threshold for filing such a complaint, and this complaint was filed by an individual with no expertise in election law. Who funded it? It seems to be equivalent to a press release issued under another name. Coinbase is proud of its close cooperation with federal law enforcement. We remain committed to playing a trusted role in the cryptocurrency service requirements of the U.S. Marshals Service, which is funded by the sale of confiscated assets to the Department of Justice's asset forfeiture fund, not tax dollars appropriated by Congress. It is also worth noting that Coinbase donated $500,000 to Democratic and Republican super PACs, providing funding for the House and Senate in 2024, respectively. White and Public Citizen It seems to want to report a political bias that does not exist. Quite simply, the worldview these researchers support in this document is not the law, even though they wish it were so. ” Earlier today, cryptocurrency critic Molly White and consumer rights group Public Citizen filed a new complaint with the Federal Election Commission, continuing to accuse Coinbase of violating U.S. campaign finance laws. “Since the asset confiscation fund is a congressional appropriation, Coinbase received compensation for performing the contract from congressional appropriations and is therefore a federal contractor. ”