Source: Decrypt

Translation: BitpushNews

After heavily investing in the 2024 election, American cryptocurrency companies are once again ramping up political spending this year—lavishing money on Donald Trump's inauguration committee.

Trump's inauguration fund is used to pay for lavish dinners, parties, and parades before and after the new president's inauguration, as well as the formal ceremony itself. For companies and entrepreneurs hoping to win favor with the new president and network with government members on Washington's most important night, donating to the inauguration committee is a reasonable and common practice.

In the lead-up to Trump's inauguration on January 20, many well-known cryptocurrency companies have already invested millions of dollars to support the new president's return to the White House on his first night.

According to the New York Times, citing informed sources, Trump's inauguration committee has raised over $170 million, with some seven-figure donors being placed on a waiting list or informed that they may not receive VIP tickets at all because: tickets are sold out.

The funds raised by Trump have set a record for presidential inauguration fundraising in the United States. According to someone familiar with the fundraising situation, Trump's 2017 inauguration committee raised $107 million, while the current inauguration committee is working to raise nearly $200 million.

Although public disclosures regarding donations have not yet been submitted, here are all known cryptocurrency companies as of now (January 9, 2025).

Ripple

Ripple is one of the main leaders in the cryptocurrency industry's historic political spending plan for 2024. A company spokesperson confirmed to Decrypt that Ripple will donate $5 million worth of XRP to Trump's inauguration fund. XRP is a cryptocurrency developed with the assistance of Ripple's founders, supporting the company's financial services platform.

Ripple provides blockchain infrastructure for financial institutions and holds a large amount of XRP. In the weeks following Trump's re-election on November 5, the value of XRP held by the company increased by over $85 billion.

Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty just met with Trump this week.

In the past 24 hours, XRP has outperformed other major crypto assets, currently priced at $2.32.

Robinhood

The popular trading app Robinhood has been actively expanding its cryptocurrency products in recent years. A company spokesperson confirmed to Decrypt that Robinhood has donated $2 million to Trump's inauguration committee.

Mary Elizabeth Taylor, Vice President of Global Government and External Affairs at Robinhood, stated in a statement shared with Decrypt: "Robinhood is excited to welcome a new era of American innovation and reasonable regulation that will promote free markets, investor access, and consumer choice. We look forward to working with President Trump and the new administration to drive positive change in the market, advocate for our customers, and pursue our mission of democratizing finance for all."

Coinbase

Coinbase is another cryptocurrency company that has played a significant role in the historic political push for the industry in 2024. The company confirmed to Decrypt that it recently donated $1 million to Trump's inauguration fund.

Days before Christmas, Coinbase was one of the first cryptocurrency companies to offer such donations.

Kara Calvert, Vice President of U.S. Policy at Coinbase, stated in a statement shared with Decrypt: "Coinbase is committed to working with both parties in government and Congress to establish clear regulatory guidelines for cryptocurrency, and it is important to get involved early. That is why Coinbase is committed to supporting President Trump's transition of power before the election and ultimately supporting his inauguration."

Circle

Circle, the issuer of the leading U.S. stablecoin USDC, announced on Thursday that it donated $1 million worth of tokens to support Trump's inauguration.

Circle CEO Jeremy Allaire stated in a post sent to X on Thursday: "We are excited to build a great American company, and the fact that the committee accepts USDC payments shows how far we have come and the potential and power of the digital dollar."

Trump has eagerly accepted cryptocurrency donations, dating back to the peak of his presidential campaign when industry leaders gifted him over $3 million worth of various tokens.

Kraken

According to a company representative, the U.S. cryptocurrency exchange Kraken has donated $1 million to Trump's inauguration fund.

The exchange's founder, Jesse Powell, personally donated $845,000 worth of Ether to the elected president's campaign team last summer.

Moonpay

Moonpay is a digital payment platform that simplifies the way retail investors purchase cryptocurrency. A company spokesperson confirmed to Decrypt that the company recently made a donation to support the elected president's inauguration, but the spokesperson declined to comment on the donation amount.

Ondo Finance

New York-based Ethereum asset management company Ondo Finance donated $1 million to Trump's inauguration at the end of last month.

In February of last year, Ondo became the first company to tokenize U.S. Treasury bonds. As one of the largest issuers of tokenized securities on Ethereum, Ondo plays a key role in bringing this emerging asset class of tokenized securities into the mainstream.

The Trump inauguration events will begin on January 17 local time. According to the latest event list, those who donate $1 million or raise $2 million will be entitled to six tickets to six different events, including the swearing-in ceremony and a "candlelight dinner" with Trump and his wife Melania on January 19, which is promoted as the "grand finale" of the weekend.

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