In a recent development, Circle – the second-largest stablecoin provider within the cryptocurrency market – donated one million US Dollars Coin (USDC) to the inauguration committee of former President Donald Trump.
The donation is similar to those made by the cryptocurrency exchanges Coinbase, Kraken, and blockchain payment company Ripple.
This donation resembles the ones given by Coinbase, Kraken, and Ripple – three major players in the cryptocurrency exchange and blockchain payment sectors.
Or simply:
Coinbase, Kraken, and Ripple have also made donations like this one, so it follows their example.
Circle Becomes the Latest Industry Leader to Donate
The cryptocurrency sector has consistently backed the incoming Trump administration, which has pledged to position the United States as a front-runner in cryptocurrency innovation. Circle, one of the largest U.S. stablecoin providers, reinforced this support by contributing $1 million worth of USDC (a stablecoin issued by Circle) to Trump’s inaugural fund.
Circle’s CEO, Jeremy Allaire, expressed his enthusiasm about creating a strong American business. He noted that the Committee accepting payment in USDC [USD Coin] symbolizes our significant progress and the immense potential and might of digital dollars, as shared on platform X (previously Twitter).
Since President Trump’s re-election, the market capitalization of USDC (US Dollar Coin) has grown steadily. This upward trend can be attributed to the robust bull market that fueled a surge in demand for stablecoins across various markets. Additionally, U.S. companies have profited significantly from the regulatory environment’s optimism during this period.
In particular, the challenges Tether faces in Europe because of MiCA have led to increased demand for USDC worldwide.
Here’s another option:
Notably, Tether’s difficulties in Europe as a result of MiCA regulations have caused a surge in demand for USDC across global markets.
At present, tech leaders and prominent donors have already given substantial sums to Trump’s inauguration fund, amounting to over $170 million. The committee in charge is planning a variety of events such as galas, parades, and dinners to honor his November election win.
The three-day celebration will take place around the January 20 swearing-in ceremony.
On December 21st, Ripple committed a sum of $5 million in XRP for the festivities surrounding the inauguration. As per reports from Fox Business, Coinbase and Kraken each donated $1 million to the Trump-Vance Inaugural Fund.
As an analyst, I’ve come across reports that Ondo Finance recently contributed $1 million to an inaugural fund. Interestingly, this company received a $250,000 investment from World Liberty Financial – a cryptocurrency project endorsed by Trump – back in mid-December. It’s also been reported that Robinhood made a donation of $2 million.
Donors Will Recieve Lucrative Perks During Trump’s Inauguration
In exchange for their contributions, crypto magnates can anticipate a variety of benefits. Donors giving or raising $1 million will be granted exclusive invitations to an array of private functions. These events encompass dinners with Donald Trump and Vice President-elect J.D. Vance, as well as receptions featuring other key figures in the incoming administration.
The unique advantages presented to donors, including crypto firms, provide them with chances to foster connections with the newly inaugurated administration.
During the latest election period, cryptocurrencies played a substantial role, with political action committees (PACs) that have ties to crypto contributing approximately $133 million across different campaigns. Notable donors in this category were well-known cryptocurrency firms like Ripple, Coinbase, and Jump Crypto.
After the election, Brad Garlinghouse, CEO of Ripple, showed his continued backing for pro-cryptocurrency measures by donating $25 million to Fairshake, a political action committee that advocates for cryptocurrencies. Since then, Fairshake has managed to raise over $103 million in funds for the upcoming 2026 midterm elections, demonstrating growing support for pro-crypto initiatives.
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2025-01-09 23:36