Crypto Giants Back Trump with Millions for Inauguration

Ripple has pledged $5 million in XRP to support the inauguration events of President-elect Donald Trump and Vice President-elect J.D. Vance in January. This donation marks the largest cryptocurrency contribution ever made for a political event. Other major crypto firms, including Coinbase, Kraken, and Ondo Finance, have also committed $1 million each to the Trump-Vance Inaugural Committee. These contributions will fund a series of celebrations, including parades, dinners, and exclusive receptions surrounding the January 20th swearing-in ceremony. The donations come with significant benefits for top contributors. Companies or individuals donating $1 million or raising $2 million will receive six tickets to high-profile events. These include exclusive dinners with Trump and Vance, receptions with incoming Cabinet members, and access to other private gatherings. Such opportunities offer crypto leaders a chance to establish direct relationships with the new administration and influence future regulatory policies. The involvement of crypto firms in political funding reflects the sector`s growing influence. Earlier this year, Ripple CEO Brad Garlinghouse personally donated $25 million to Fairshake, a pro-crypto super PAC. Collectively, crypto-affiliated PACs have raised over $133 million for political campaigns this cycle. This financial support highlights the industry’s commitment to shaping a favorable regulatory environment in the United States. Meetings between top crypto executives and Trump have already yielded results. SEC Chair Gary Gensler has resigned, and pro-crypto advocate Paul Atkins has taken his place. Furthermore, Trump has appointed David Sacks as the first-ever AI and Crypto Czar , signaling a strategic focus on these technologies in his administration. These changes suggest a policy shift that could benefit the cryptocurrency industry over the next four years. Crypto.com CEO Kris Marszalek and Coinbase CEO Brian Armstrong have also held private discussions with Trump in recent months. Topics included regulatory reforms and key personnel appointments aimed at promoting innovation while ensuring market stability. With the cryptocurrency industry’s increasing political presence, these dialogues are expected to play a vital role in shaping the sector`s future. The recent surge in crypto political funding follows a broader trend of integration between digital assets and traditional power structures. Ondo Finance’s donation comes after a significant market boost, with its token reaching an all-time high of $2.14 following a major investment from World Liberty Financial, a Trump-backed project. This financial momentum has reinforced the sector’s credibility in political and economic discussions. Crypto leaders recognize the importance of being part of policymaking processes, especially as regulatory clarity remains a key concern. By supporting Trump’s inauguration and engaging directly with political leaders, companies like Ripple, Coinbase, and Kraken are positioning themselves as influential stakeholders in the U.S. financial landscape. As the cryptocurrency industry gains ground in Washington, Trump’s administration appears ready to embrace digital assets and blockchain technologies. The appointment of key pro-crypto figures, along with significant financial contributions from the industry, signals a potential turning point. The coming years could see the U.S. adopting a more crypto-friendly stance, driven by collaboration between political leaders and industry pioneers.

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Source: Coinpaprika