Trump’s supportive stance on cryptocurrencies has triggered a significant rise in digital currency donations for his campaign.
Donald Trump has raised over $4 million in cryptocurrency contributions, according to a CNBC report. The donations came in Bitcoin (BTC), Ethereum (ETH), XRP, and the USD Coin (USDC).
More than $2.15 million in BTC was contributed by 19 donors from 12 states. The Federal Election Commission’s (FEC) filing revealed that the donors’ professions varied widely, including roles such as homemaker, U.S. military officer, missionary, painter, sales representative for a pizza company, and security technician with the State Department.
The FEC filing detailed the contributions to the “Trump 47” joint fundraising committee from April 1 to June 30. During this period, the committee raised approximately $120 million, with regular payouts going to Trump’s campaign, the Republican National Committee, and other affiliated parties.
Trump’s campaign has quickly converted these crypto contributions into the more stable USDC, with some funds held for strategic purposes. Trump’s supportive stance on cryptocurrencies has triggered a significant rise in digital currency donations, enhancing his campaign funds and demonstrating the growing acceptance of cryptocurrencies in mainstream politics.
Support for Trump Through Major Crypto Contributions
Cameron and Tyler Winklevoss, co-founders of Gemini, also donated Bitcoin to Trump’s campaign. Each brother contributed 15.47 BTC, valued at around $1 million at the time of the donation. However, the excess amount was returned to them since their contributions exceeded the legal limit of $844,600. BitGo CEO Mike Belshe also donated $50,000 to BTC.
Kraken CEO and Founder Jesse Powell committed nearly $1 million, primarily in Ethereum, to support Trump’s campaign. Powell used this opportunity to voice his dissatisfaction with the current U.S. administration’s stance on crypto regulation. He criticized Senator Elizabeth Warren and SEC Chairman Gary Gensler, believing that Trump’s policies would be more favorable for the crypto industry.
Ripple’s Chief Legal Officer, Stuart Alderoty, contributed $300,000 worth of XRP, while Ryan Selkis, the former CEO of Messari, donated $50,000 in USDC. These substantial contributions reflect a strong belief in Trump’s potential positive impact on the cryptocurrency sector.
Trump is slated to speak at the upcoming Bitcoin Conference in Tennessee. He will deliver a keynote address on the cryptocurrency industry, indicating his continued engagement and support for the sector.
