[ad_1]
Circle, the 2nd largest stablecoin issuer in the cryptocurrency market, contributed 1 million USDC to President Trump’s inaugural committee.
The donation follows crypto exchanges such as Coinbase and Kraken as well as blockchain payments company Ripple.
Circle Becomes Latest Industry Leader to Contribute
The crypto industry has consistently supported the incoming Trump administration, who has promised to make the United States a leading market for crypto innovation. Circle, one of the largest US stablecoin issuers, further reinforced that support by contributing 1 million USDC to Trump’s inauguration fund.
“We are excited about building a great US company, and the Commission’s acceptance of USDC payments is a sign of our growth, as well as the potential and power of digital currencies number,” write Jeremy Allaire, CEO of Circle, on X (formerly Twitter).
USDC’s market capitalization has gradually increased since Trump’s re-election. The bull market has boosted demand for stablecoins, and US companies have benefited greatly from the positive regulatory outlook.
Most notably, Tether’s stagnation in Europe due to MiCA has boosted USDC demand in the global market.
Meanwhile, tech executives and major donors have contributed significantly to Trump’s inauguration fund, exceeding $170 million to date. The inaugural committee is responsible for organizing a series of events, including parties, parades and dinners, to celebrate the November election victory.
The three-day celebration will take place around the swearing-in ceremony on January 20.
On December 21, Ripple pledged to donate $5 million in XRP to support the inauguration ceremonies. As reported by Fox Business, Coinbase and Kraken each contributed $1 million to the Trump-Vance Inaugural Committee.
Meanwhile, Ondo Finance reportedly contributed $1 million to the inauguration fund. The company previously received $250K in investment from Trump-backed cryptocurrency project World Liberty Financial in mid-December. Robinhood also reportedly donated $2 million.
Sponsors Receive Many Incentives at Trump’s Inauguration Ceremony
In return for their sponsorships, cryptocurrency leaders are likely to receive many incentives. Those who contribute $1 million or raise $2 million for the inauguration will have exclusive access to a series of private events, including dinners with Trump and Vice President-elect J.D. Vance, and Receptions with other members of the upcoming cabinet.
These exclusive benefits give sponsors, like crypto companies, the opportunity to develop relationships with the new administration.
Cryptocurrencies have had a significant influence on the recent election cycle, with crypto-affiliated super PACs contributing more than $133 million to various campaigns. Prominent contributors include crypto companies such as Ripple, Coinbase and Jump Crypto.
Following the election, Ripple CEO Brad Garlinghouse continued to show his support for pro-crypto initiatives by contributing $25 million to Fairshake, a pro-crypto super PAC, has since raised more than $103 million for the upcoming 2026 midterm elections.
General Bitcoin News
[ad_2]
