Benzinga·2025-11-19 06:52Core Viewpoint - Coinbase's donation to President Trump's ballroom project was made to maintain good relations with the White House, according to Emilie Choi, the company's president and COO [1][3]. Group 1: Donation Details - Choi stated that the donation was not an issue and emphasized the need for private industry to support updates to public buildings [2]. - Coinbase made a donation to The Trust for the National Mall, which is managing funds for the ballroom renovation [2]. - The ballroom project is estimated to cost $300 million and is described as the most ambitious structural addition to the presidential residence in over seventy years [3]. Group 2: Project Funding and Controversy - The funding for the project is sourced from private donors and Trump himself, with a list of donors including major corporations like Amazon, Apple, and Palantir [4]. - The project has faced criticism, including remarks from Hillary Clinton about the destruction of the White House ballroom [5]. Group 3: Coinbase's Political Engagement - Coinbase has been actively lobbying for cryptocurrency-friendly candidates, contributing over $68 million to Fairshake, a cryptocurrency-focused super PAC during the 2024 election cycle [6]. - The company's stock experienced a slight decline of 0.49% in after-hours trading, closing at $260.50, but has gained 5.43% year-to-date [7].