TLDR
- Circle donated 1M USDC to Trump’s inaugural committee
- Ripple pledged $5M in XRP tokens
- Coinbase and Kraken each donated $1M
- The inaugural committee aims to raise $150M
- Tech executives like Bezos, Altman, and Zuckerberg each pledged $1M
Circle has become the latest cryptocurrency company to contribute to President-elect Donald Trump’s inaugural committee, donating 1 million USDC stablecoins to support the upcoming inauguration events.
The donation was announced by Circle CEO Jeremy Allaire through social media, where he emphasized the company’s commitment to building an American business and noted the committee’s acceptance of USDC as a payment method.
@circle has contributed 1M USDC to President Trump’s Inaugural Committee. We are excited to be building
a great American company, and the fact that the Committee took payment in USDC is an indicator of how far we have come, and the potential and power of digital dollars.— Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) January 9, 2025
The contribution joins a growing list of cryptocurrency companies making donations to the Trump-Vance inaugural committee. Ripple has pledged $5 million in XRP tokens, while major cryptocurrency exchanges Coinbase and Kraken have each contributed $1 million.
The inaugural committee has set an ambitious fundraising target of $150 million to finance the various events planned for Trump’s second inauguration. According to ABC News reports, the committee has already exceeded this goal as of December 2024.
Traditional tech sector leaders have also made substantial contributions to the inaugural fund. Amazon founder Jeff Bezos, OpenAI CEO Sam Altman, and Meta’s Mark Zuckerberg have each pledged $1 million to support the inauguration celebrations.
Robinhood Markets has made one of the larger corporate contributions, committing $2 million to the inaugural fund. Transportation technology company Uber and its CEO Dara Khosrowshahi have separately pledged $1 million each.
The inaugural committee contributions differ from traditional political campaign donations, as they are specifically designated for funding the ceremonies and events surrounding the presidential inauguration.
Circle’s donation marks the first time a stablecoin has been accepted for inaugural committee contributions, representing a milestone for digital currency adoption in political fundraising.
The combined cryptocurrency industry donations amount to over $8 million, with Ripple’s $5 million XRP contribution representing the largest single donation from the sector.
Tech sector contributions have reached at least $7 million, including the individual donations from prominent executives and corporate pledges.
The acceptance of cryptocurrency donations by the inaugural committee indicates a shift in how digital assets are being integrated into traditional political fundraising channels.
The committee’s fundraising success has been notable, having reached its $150 million goal ahead of schedule, with contributions coming from various sectors of the technology and financial industries.
Corporate donations have played a substantial role in the fundraising efforts, with companies like Robinhood and Uber making seven-figure contributions.
Individual executive contributions have matched or exceeded corporate donations in several cases, with multiple tech leaders making personal pledges of $1 million each.
The most recent data shows continued momentum in fundraising efforts, with both traditional financial institutions and cryptocurrency companies maintaining their support for the inaugural events.
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