Coinbase’s Political Spending Leads to Legal Victories—And Billions in Value – BitRss

Barely more than a year ago, Coinbase’s outlook was a grim one. The company’s stock was on life support, the long-suffering crypto market looked like it might never recover, and the U.S. government appeared intent on running the exchange—and all those like it—out of business. 

How things can change. On Friday, Coinbase announced that the SEC is set to dismiss its yearslong lawsuit against the company—pending commissioner approval—capping off an incredible political, financial, and now legal comeback for America’s top homegrown crypto exchange.

While numerous factors are to thank for that stunning resurgence, few may have had as much direct impact as Coinbase’s aggressive and unprecedented campaign to influence American politics.

At times, the strategy—which involved shelling out tens upon tens of millions of dollars on campaign contributions and political donations—seemed …