Faryal Shirzad, chief policy officer of US-based cryptocurrency exchange Coinbase, refuted many of the US senator’s claims about its ties to the Trump administration.
In a post on Thursday X, Shirzad responded to criticism from Connecticut Sen. Chris Murphy, who claimed on social media that Coinbase is one cog in President Donald Trump’s “corrupt factory” through donations to the political action committee (PAC) FairShake and funding for the 2025 inauguration.
The senator pointed to a direct correlation between the fundraising and the U.S. Securities and Exchange Commission (SEC), which dropped an enforcement case against Coinbase filed during the previous administration.
Wednesday’s X Post. sauce: senator chris murphy
In response to Murphy’s claim that President Trump asked Coinbase to make a “significant donation for the ballroom,” Shirzad said the exchange was “proud to support the construction of a new ballroom through the Trust for the National Mall,” adding that many companies are contributing to the fund.
Shirzad also disputed the corruption allegations, saying Fair Shake is a “nonpartisan” PAC and that past inauguration ceremonies have been supported by large numbers of public donations.
Trump initially announced plans in July to build a 90,000-square-foot ballroom on the White House grounds, but later said the project would cost about $200 million and that he would “not touch” the East Wing, the historic part of the building that houses the first lady’s office.
But photos taken last week revealed that the east wing had been completely demolished as part of construction of a banquet hall that Trump says will now cost an estimated $350 million.
“Please note that we are not a general contractor, so if you are dissatisfied with the progress of your project, we are not a good target,” Shirzad said in response to Murphy.
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Both comments on social media came weeks after Coinbase representatives attended a fundraising dinner held at the White House for the Ballroom Project. Other attendees included Gemini co-founders Cameron and Tyler Winklevoss, as well as representatives from Ripple Research.
Coinbase declined to comment on Cointelegraph’s questions about the amount the exchange donated to the National Mall Trust and the East Wing demolition.
Will Coinbase’s presence in Washington grow even more under the Trump administration?
The ballroom incident is not the first time Coinbase’s financial involvement in a Trump administration-backed project has drawn attention to the company.
In June, a military parade was held on President Trump’s birthday, and the exchange featured prominently on the list of sponsors for the 250th anniversary of the U.S. military. Coinbase’s involvement was through a one-time donation to America250, the “bipartisan effort” behind the U.S.’s 500th anniversary series of events.
Coinbase CEO Brian Armstrong recently visited members of Congress during the U.S. government shutdown, which entered its 31st day on Friday, to discuss the Cryptocurrency Market Structure Act. Republican leaders had originally planned for the bill in the U.S. Senate, titled the Responsible Financial Innovation Act, to die out of committee by the end of October.
But as the shutdown continues with no end in sight, it’s unclear whether a virtual currency bill will become a priority in Congress.
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