[Coinbase Responds to Senator Murphy's Allegations, Calling Them 'Baseless'] Coinbase publicly refuted Democratic Senator Chris Murphy's allegations on social platform X, calling his claims about 'favoring Trump' 'utterly absurd.' Murphy accused Coinbase of donating $46 million to the Trump administration and related projects, as well as funding Trump's inauguration and the construction of the White House banquet hall, implying that these actions were connected to the U.S. Securities and Exchange Commission (SEC) dropping its lawsuit against Coinbase. Coinbase Chief Policy Officer Faryar Shirzad responded, stating that these allegations are baseless and emphasized that the crypto industry's political action committee, Fairshake, is a bipartisan organization that has supported candidates, including several Democratic lawmakers. He pointed out that corporate donations to presidential inauguration events are customary and that contributions to the banquet hall were made through the National Mall Trust Foundation, in collaboration with other industry companies.