As President-elect Donald Trump’s inauguration day approaches, crypto industry CEOs are making significant contributions to secure access and influence with the incoming administration.
Major firms, including Circle, Ripple, Coinbase, Kraken, and Robinhood, are stepping up with substantial donations to Trump’s inaugural fund, marking the growing intersection between the cryptocurrency sector and political campaigns.
Key Donations from Crypto Giants
Jeremy Allaire, CEO of Circle, took to social media platform X(Twitter) to reveal that his company had donated $1 million in tokens to Trump’s inaugural committee. This contribution follows a series of donations from top players in the crypto space as they seek to solidify their ties with the new administration.
Ripple, a blockchain-based firm embroiled in an ongoing lawsuit with the U.S. SEC, has also made its presence known, donating a substantial $5 million in XRP tokens.
Ripple’s support signals the company’s efforts to gain favour in Washington amid its legal battles, which have caused significant uncertainty in the crypto sector.
Coinbase, the largest registered crypto exchange in the U.S., has committed $1 million to the inauguration fund. The donation highlights the company’s proactive approach to fostering relationships with government officials, especially as the regulatory landscape for cryptocurrencies remains fluid.
Meanwhile, Kraken, another major crypto exchange headquartered in San Francisco, followed suit with a $1 million contribution. Robinhood, the trading platform that has seen rapid growth in its crypto business, has donated $2 million to the inauguration.
Also Read: Donald Trump Wins Alongside 240 Pro-Crypto House Reps & 14 Pro-Crypto Senators
The company’s increased involvement in the crypto market underscores its desire to build stronger ties with government leaders and support the political landscape.
Big Tech Follows Suit
While crypto firms have made significant contributions, tech giants outside the cryptocurrency space are also supporting Trump’s inauguration.
Google and Meta have both pledged $1 million each to the fund, demonstrating the broader interest from Silicon Valley in gaining favour with the incoming administration.
These donations from big tech firms highlight the growing importance of maintaining relationships with political leaders for the future of business in the digital age.
A Growing Influence of Crypto
According to Public Citizen, a watchdog group based in Washington D.C., the crypto industry has donated more than $119 million to Trump’s historic re-election campaign.
Coinbase and Ripple were among the largest corporate donors, signalling that the crypto space is becoming a more influential player in U.S. politics.
As part of the celebrations surrounding the inauguration, the crypto industry will host the “Inaugural Crypto Ball” in Washington on January 17. The high-profile event will offer attendees an opportunity to network and show support for the incoming administration.
Tickets to the event are priced at $2,500, with backing from prominent companies such as
With millions of dollars in donations flowing from the crypto sector, the influence of cryptocurrency firms in U.S. politics is undeniable.
As the industry seeks greater regulatory clarity and political influence, these significant contributions are likely to have long-term effects on the relationship between cryptocurrency companies and government leaders.
Also Read: Donald Trump Family’s Crypto Project WLFI Down $2.1M After 8,827 ETH Purchase