If the petition has been granted by the FEC yet, Even a Coinbase spokesperson confirmed that the exchange had filed to close down its PAC, but could not say.
PACs are formed to raise capital on behalf of particular candidates for public office or company and interests. However, no funds were raised by the Coinbase PAC, nor did it straight back any candidates throughout its life span, public figures show.
Its PAC was launched by the exchange in June 2018, and it was run by chief policy officer Mike Lempres, that left the exchange a year to join venture capital firm Andreessen Horowitz.
“Committees shouldn’t quit filing just since they checked the’Termination Report’ box on their routine campaign finance disclosure form. Committees have to document regularly scheduled reports until the Commission notifies them in writing that it’s granted their petition to complete.”
Nevertheless, a committee Must continue frequently until the termination File is accepted by the FEC, filing reports, the site explained, including:
Brian Brooks, who combined Coinbase in September as chief legal officer, was the most candidate to have carried on the PAC following Lempres’ departure.
Published at Mon, 22 Apr 2019 22:30:01 +0000
As stated by the FEC’s site, a committee may file to complete its operations if”it receives (or intends to receive) donations,” or if”it makes (or intends to make) expenses”
The San Francisco-based crypto exchange filed a Termination Report because of the PAC on April 3, 2019, based on publicly available records in the Federal Election Commission’s site (FEC). The move means that the exchange would like to shut its PAC, though it was not immediately clear when the committee had been shut down.
Coinbase CEO Brian Armstrong at Consensus picture via Coinbase/YT