Former President Donald Trump's campaign has seen a surge in cryptocurrency donations, now exceeding $4 million, primarily in Bitcoin.
This marks a notable increase from last week’s $3 million.
Recent filings show Trump’s campaign has attracted substantial crypto contributions, including Bitcoin, Ethereum, and XRP. From April to June, the “Trump 47” fundraising committee raised over $118 million, benefiting Trump’s campaign and affiliated organizations.
The campaign has gained significant support from the crypto community, with 19 donors contributing over $2.15 million in Bitcoin alone.
Trump’s campaign, which began accepting crypto donations in May, has attracted major figures like Tyler and Cameron Winklevoss and Kraken’s Jesse Powell.
Special fundraising events, including the Bitcoin Conference 2024 in Nashville, are also drawing high-value contributions.
Trump’s involvement in the crypto sector raises speculation about future policies if he is re-elected, though some question the motives behind his crypto outreach.
Wall Street firms are expected to keep expanding into crypto, despite growing competition and minimal correlation between Bitcoin and traditional indices like the S&P 500 and Nasdaq.
Circle, the company behind the USDC stablecoin, is optimistic about the mainstream adoption of stablecoins as a key component of digital finance.
Justin Sun, founder of Tron and a prominent figure in the cryptocurrency world, has voiced strong criticisms of Coinbase’s Bitcoin counterpart, cbBTC.
Nik Storonsky, the founder and CEO of fintech powerhouse Revolut, has reportedly offloaded shares valued between $200 million and $300 million in the company.