Ripple Backs Trump Inauguration with $5M XRP Donation
23.12.2024 10:00 1 min. read Alexander Zdravkov
Ripple has taken a significant step in supporting the incoming administration by contributing $5 million worth of XRP to President-elect Donald Trump’s inauguration fund.
This move comes alongside a private meeting between Ripple CEO Brad Garlinghouse and Trump, which sparked notable market activity, particularly affecting XRP’s value.
Ripple isn’t the only crypto company stepping forward. Coinbase, under CEO Brian Armstrong, donated $1 million, while Kraken and DeFi platform Ondo Finance each pledged the same amount. These contributions come with exclusive perks, including access to an inaugural ball, a Sunday service, and opportunities to meet Trump’s cabinet members.
The driving force behind these donations is the crypto sector’s need for regulatory clarity. Trump’s pro-business stance and commitment to reducing red tape make him a pivotal ally for blockchain and cryptocurrency innovation.
Ripple’s involvement in high-profile initiatives like this underscores its ambition to cement its status as a key player in the crypto industry. Through partnerships with entities such as Bitstamp and ongoing engagements with major financial institutions like the Federal Reserve, Ripple is positioning itself as a leader in blockchain technology.
This high-profile donation aligns with Ripple’s broader efforts to strengthen its influence in the U.S. market and beyond. By pushing for tax-free crypto transactions and supporting blockchain integration in global financial systems, Ripple signals its confidence in XRP’s long-term potential, even as the market faces short-term fluctuations.
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