Coinbase Hits Back After Trump ‘Ballroom Donation’ Claims

Coinbase Hits Back After Donald Trump ‘Ballroom Donation’ Claims

Written by Aaron S.,

Editor-In-Chief

Last Updated: October 31, 2025

Key Takeaways

Coinbase responded to Senator Chris Murphy's claims linking its donations to Donald Trump's "corruption factory" and a past SEC case;
Murphy criticized Coinbase’s support of Fairshake PAC and its role in funding the 2025 inauguration and White House ballroom;
Coinbase said it funded the project through a public trust and denied any role in managing the construction or its outcomes.

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Coinbase $1.87B has addressed recent comments made by Senator Chris Murphy, who raised concerns about the company's financial support for a White House project and political groups linked to President Donald Trump.

In a post on X, Murphy claimed that Coinbase was part of what he described as President Trump’s "corruption factory".

He pointed to the company’s donation to Fairshake, a political action committee (PAC) that supports cryptocurrency interests, and to its involvement in funding the upcoming 2025 inauguration.

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He also suggested that these actions were connected to a past enforcement case from the US Securities and Exchange Commission (SEC), which has since been dropped.

Murphy further accused President Trump of asking Coinbase for a large donation to help pay for a new ballroom planned for the White House grounds. The ballroom was originally presented as a private project that would not affect the East Wing.

However, recent photos showed that the East Wing had been torn down, even though President Trump had promised it would be left untouched. The project's cost has reportedly risen from $200 million to $350 million.

In response, Coinbase’s chief policy officer, Faryar Shirzad, stated that the company was proud to contribute to the new ballroom through the Trust for the National Mall.

He emphasized that Coinbase is not involved in managing the construction and should not be blamed for its progress.

Recently, Shirzad pushed back against the idea that stablecoins pose a major risk to US banks. What did he say? Read the full story.