The crypto industry contributed $18 million to Trump’s inauguration, one of the top donors
A recent Fortune report highlighted President Donald Trump’s inauguration week was the most luxurious week in history, an unprecedented $239 million donation from company backers and executives, including major cryptocurrency players like Ripple Labs.
The highest donation for Pilgrim Pride is $5 million, followed by Ripple
exist Contributorsthe cryptocurrency sector became an important force, providing Trump with a channel of about $18 million, demonstrating the industry’s strong support for his presidency.
The leading crypto donation is Ripple Labs. The blockchain payments company reportedly donated nearly $4.9 million, making it the second largest donor in its overall, second only to the pride of the pilgrims, donating $5 million.
Other notable contributors in the cryptocurrency space include Robinhood, Robinhood, an online broker that earned considerable income from cryptocurrency trading and donated $2 million.
In addition, such as Common casesKraken and Crypto.com, as well as Stablecoin issuer circles and venture capital paradigms, donated $1 million each, further strengthening the crypto industry’s influence on the political stage.
Trump’s crypto-friendly agenda
The political climate has undergone a huge shift under President Joe Biden, whose administration is characterized by a comprehensive Suppression In the crypto industry.
The SEC claims that many cryptocurrencies are eligible for securities, making them compliant with strict regulatory requirements. This enhanced scrutiny has prompted crypto executives to mobilize huge resources, spending more than $130 million to influence congressional elections and advocate for pro-Clateto candidates.
By contrast, the cryptocurrency sector has found a firm ally in Trump who declared himself “pro-Cretto President.” Industry-renowned figures including Gemini Exchange co-founders Tyler and Cameron Winklevoss have promised $1 million to Trump’s re-election campaign.
Jesse Powell, co-founder and chairman of Cracon, also contributed $1 million, reflecting the industry’s joint efforts to support candidates who believe are good for their own interests.
The administration has taken a crypto-friendly approach after Trump’s election victory. Trump appointed “AI and Crypto Czar” to build strategic bitcoin and Digital Asset Reservesand effectively reduce the regulatory enforcement capabilities of major institutions including the SEC and the Commodity Futures Trading Commission (CFTC).
It is worth noting that the SEC has provided lawsuits against several donors to the Trump Inauguration Fund, including prominent figures such as Coinbase, Crypto.com, Uniswap, Yuga Labs, Kraken and Ripple.
At the time of writing, Ripple-backed token XRP traded at $2.0835, a major support for future price movements of cryptocurrencies after a sharp drop to $1.61 on April 7.
But XRP fell nearly 13% per month as Trump’s tariff policy caused significant losses to risky assets and wider crypto prices.
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