Crypto Giants Donate Over $10 Million to Support Trump’s Inauguration

Several prominent cryptocurrency companies have reportedly made substantial donations to support President-elect Donald Trump’s inauguration, signaling their optimism about his pro-crypto policies.

According to Politico, firms such as Ripple, Coinbase, Kraken, Robinhood, and Circle collectively contributed over $10 million for inauguration events.

Ripple emerged as the largest contributor among the group, donating $5 million in digital assets. The company, which has previously faced legal challenges from the SEC over its XRP token sales, sees this as a pivotal opportunity to engage with the incoming administration. Ripple’s CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty are expected to attend the inauguration on January 20.

Robinhood, a major platform for retail trading that includes cryptocurrencies, contributed $2 million, while Coinbase, Kraken, and Circle each donated $1 million. These contributions reflect the crypto industry’s efforts to foster a strong relationship with what many see as the most crypto-friendly U.S. administration to date.

Kara Calvert, Coinbase’s vice president for U.S. policy, highlighted the significance of engaging with the new administration, stating, “This is the most pro-crypto president we’ve ever seen. His clear platform has created an important opportunity for the industry to connect and collaborate during this transition.”

The donations underscore the industry’s high hopes for Trump’s presidency, with expectations that his administration will create a favorable regulatory environment for digital assets and blockchain innovation.