2018 has been a busy year for Coinbase. One thing the company did was form a Political Action Committee, but what exactly is a PAC? These types of committees raise money. PAC money is generally spent electing candidates (by donating to campaigns or political parties) or passing legislation (by paying lobbyists).
Coinbase is involved with advocacy to prevent cryptocurrency from being defined and regulated as securities, as well as promoting the blockchain industry.
This is an updated venn, expanding one I published several months ago.
I have a love hate relationship with coinbase.
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On one hand this is great for cryptocurrency to have someone of Coinbase' stature fighting for cryptocurrency (given they have a vested interest) but I am concerned that Coinbase is the corporate big bank figure that cryptocurrency does not need.
I want to see adoption grow, I want to see it easier for people to invest and buy cryptocurrencies, but their high fees and increasingly corporate attitude concerns me that they'll use their power and influence to prevent competitors from coming to their level.
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