Coinbase Rebuts Senator Murphy’s ‘Trump Favoritism’ Charge

Sen. Murphy claimed Coinbase’s donations influenced the SEC’s decision to drop its lawsuit and tied them to Trump’s “corruption factory.”

Business Oct 31, 2025 0 23 Add to Reading List

Coinbase Rebuts Senator Murphy’s ‘Trump Favoritism’ Charge

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Coinbase, one of the world’s largest cryptocurrency exchanges, has pushed back against accusations from the U.S. Senator Chris Murphy, who alleged that the crypto exchange benefited from political favoritism under the U.S. President Donald Trump.

The exchange’s Chief Policy Officer (CPO), Faryar Shirzad, publicly responded through an X post, calling the senator’s claims “ridiculous.”

Senator @chrismurphyCT. This is ridiculous. Here are the facts:
– Fairshake is non-partisan superpac. Ask your staff to look up the public disclosures and you'll see that FS supported multiple Democrats, including 3 of your new Senate D colleagues.
– Presidential Inaugural… https://t.co/0PGEz3zQtJ
— Faryar Shirzad
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