Faryar Shirzad, the chief policy officer at the US-based cryptocurrency exchange Coinbase, has rebutted several claims made by a US senator regarding connections to the Trump administration.
In a Thursday X post, Shirzad addressed criticism from Connecticut Senator Chris Murphy, who asserted on social media that Coinbase is part of US President Donald Trump’s “corruption factory” due to its donations to the political action committee (PAC) Fairshake and funding for the 2025 inauguration.
The senator made a direct connection between this funding and the US Securities and Exchange Commission (SEC) dropping an enforcement action against Coinbase, which had been initiated during the prior administration.
In response to Murphy’s assertion that Trump had sought a “large donation from Coinbase for [his] ballroom,” Shirzad indicated that the exchange was “proud to have contributed to the construction of a new ballroom via the Trust for the National Mall,” noting that multiple companies participated in the funding.
Shirzad also countered the corruption allegations, arguing that Fairshake is a “non-partisan” PAC and that numerous public donations have supported past inaugurations.
Trump initially unveiled plans for a 90,000 square-foot ballroom on the White House grounds in July, later stating that the project would cost roughly $200 million and wouldn’t “impact” the East Wing — the historic portion of the building that contains the Office of the First Lady.
However, photographs taken last week showed that the East Wing has been entirely demolished as part of the ballroom project, now estimated to cost $350 million according to Trump.
“Please note that we’re not the general contractor, so we’re not the correct target if you’re dissatisfied with how the project is proceeding,” Shirzad told Murphy.
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Both social media remarks occurred a few weeks after a Coinbase representative attended a fundraising dinner at the White House for the ballroom initiative. Other attendees included Gemini co-founders Cameron and Tyler Winklevoss and a representative from Ripple Labs.
Coinbase opted not to comment on inquiries from Cointelegraph about the amount contributed to the Trust for the National Mall or the East Wing demolition.
Bigger presence for Coinbase in Washington under Trump?
The ballroom situation is not the first time Coinbase’s financial involvement in initiatives backed by the Trump administration has brought the company into focus.
In June, the exchange was prominently featured among sponsors for a 250th-anniversary celebration of the US Army during a military parade held on Trump’s birthday. Coinbase’s participation came through a one-time donation to America250, a “nonpartisan initiative” supporting a series of events for the US’ semiquincentennial.
Coinbase CEO Brian Armstrong recently met with lawmakers amid a US government shutdown — now in its 31st day as of Friday — to discuss legislation related to crypto market structure. Republican leadership aimed for the bill, titled the Responsible Financial Innovation Act in the US Senate, to be out of committee by the end of October.
With the shutdown continuing and no resolution in sight, it remains uncertain if a crypto bill will be prioritized in Congress.
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