Ripple has committed $5 million in XRP to support the inauguration celebrations of President-elect Donald Trump and Vice President-elect JD Vance in January.
Other Cryptocurrency companies, including Coinbase, Kraken and Ondo Finance, have also announced significant donations to the inauguration fund.
Cryptocurrency Companies Contribute Over 8 Million USD To Trump’s Inauguration Ceremony
As reported by Fox Business, Coinbase and Kraken each contributed $1 million to the Trump-Vance Inaugural Committee.
The committee is organizing a series of events, including galas, parades and dinners, to celebrate its victory in the October election. The three-day festival will take place around the swearing-in date on January 20.
Meanwhile, Ondo Finance is also reported to sponsor $1 million for the inauguration fund. The announcement comes after ONDO hit a record high of $2.14 earlier this week, thanks to a $250K investment from World Liberty Financial, a Trump-backed Cryptocurrency project.
“Ripple creates donation record for Trump. Ripple just donated $5 million in XRP to boost Trump’s $200 million inauguration fund. This is the largest Cryptocurrency donation ever. Cryptocurrency is not just an alternative investment tool anymore, we are seeing it reshape the political world in real time,” Mario Nawfal write on X (Formerly Twitter).
However, donations come with many benefits for these Cryptocurrency leaders. Those who contribute $1 million or donate $2 million will receive six tickets to special events throughout inauguration weekend.
These events include a dinner with Trump and Vance and a reception for members of Trump’s incoming Cabinet, among other opportunities. This would be the perfect opportunity for companies like Ripple and Ondo to establish more favorable influence over the new government.
Cryptocurrency Donations Become the Focus
Cryptocurrency Donations have played an important role in the current political cycle. As TinTucBitcoin previously reported, three Cryptocurrency-linked super PACs contributed a total of $133 million to election campaigns. Ripple, Coinbase and Jump Crypto are the top contributors.
After the election, Ripple CEO Brad Garlinghouse donated another $25 million to Fairshake, a pro-Cryptocurrency super PAC. The group has raised $103 million for the 2026 midterm elections.
Since Trump’s re-election, Crypto executives have sought to reach out directly to the incoming administration. Earlier this month, Crypto.com CEO Kris Marszalek met with Trump to discuss Crypto-friendly financial policies and appointments.
Coinbase CEO Brian Armstrong also had a closed-door meeting with Trump last month, reportedly focusing on potential staffing options for the administration.
These efforts have yielded results. SEC Chairman Gary Gensler has resigned, and Paul Atkins, a crypto advocate, has been appointed as his replacement. Plus, Trump appointed David Sacks as the first head of AI and Crypto. With these developments, the Cryptocurrency industry seems poised to influence key decisions during Trump’s term.