logo

Quantifya




Uncover fresh crypto perspectives, ideas, and knowledge

Transforming data into insights for smarter decisions and unparalleled growth.

  • Instagram

Crypto firms pour millions into Trump’s inauguration in hopes of seeing regulatory change

2025-01-10 | Category : General | Author: quantifya

Crypto firms pour millions into Trump’s inauguration in hopes of seeing regulatory change

blog image

President-elect Donald Trump’s upcoming January 20 inauguration has attracted millions of dollars in donations from the crypto industry, according to Decrypt.

Crypto firm Ripple, which is currently embroiled in a high-profile lawsuit with the U.S. Securities and Exchange Commission, has donated $5 million in XRP tokens to Trump’s inauguration, while Coinbase, America’s largest registered crypto exchange, has given $1 million to the inauguration fund.

Meanwhile, the San Francisco-headquartered crypto exchange Kraken has donated $1 million to the swearing-in ceremony. Founder Jesse Powell — who was previously investigated by the FBI over hacking allegations — personally donated $845,000 in crypto to Trump’s election campaign, according to Decrypt.

USDC stablecoin issuer Circle also extended $1 million in USDC stablecoins to the Trump inauguration fund, while decentralized finance platform Ondo Finance gave $1 million.

Additionally, Robinhood, which has beefed up its crypto business in recent years, has donated $2 million.

Non-crypto firms in Silicon Valley have also invested heavily in Trump's inauguration, with Google and Meta each recently announcing their own $1 million donations.

The crypto industry has given more than $119 million to Trump's historic re-election campaign, with Coinbase and Ripple serving as major corporate donors, according to the D.C.-based watchdog group Public Citizen. While Trump previously labeled bitcoin "a scam against the dollar," he shifted his stance last year, pledging to transform the U.S. into a "crypto capital" at the 2024 Bitcoin Conference in Nashville.

200
73

READ OTHER NEWS

Bitcoin Today

We provide real-time updates on Bitcoin's price movements, market trends, and key developments, helping investors and enthusiasts stay informed about the dynamic world of cryptocurrency.

Explore

Altcoin Today

We focus on the latest trends, price changes, and news surrounding alternative cryptocurrencies, offering valuable insights for investors looking to diversify their portfolios beyond Bitcoin.

Explore

Memecoin News

We cover the latest developments, market trends, and community highlights in the memecoin space, providing enthusiasts and investors with timely updates on these often whimsical yet impactful cryptocurrencies.

Explore

Popular News

We provide real-time updates on General market trends, and key developments, helping investors and enthusiasts stay informed about the dynamic world of cryptocurrency.

Explore