Some U.S. Senators are expressing apprehension over the fact that OpenAI’s CEO, Sam Altman, contributed a million dollars to the inauguration fund of then-President-elect Donald Trump.
This investigation underscores worries regarding the impact of corporate entities, particularly technology and cryptocurrency companies, on political decision-making.
US Lawmakers Probe Corporate Donations to Trump’s Inauguration Fund
On January 17th, Senators Elizabeth Warren and Michael Bennett penned a letter to Sam Altman, asking him to disclose specifics regarding his latest donation to President Trump’s inauguration fund.
It was observed by lawmakers that significant tech companies such as OpenAI, Microsoft, Google, and Amazon together gave millions to a particular fund in the last two months. Notably, crypto-based firms like Ripple, Coinbase, Kraken, Robinhood, and Circle are said to have donated approximately $10 million to the Trump campaign.
It’s anticipated these funds will finance prestigious kickoff occasions, symbolizing positivity towards the digital assets field. The industry considers the upcoming Trump administration as a possible partner in driving desired regulatory updates, which might foster more development within the cryptocurrency market.
Instead, the lawmakers expressed apprehension over possible hidden agendas connected with these donations. They implied that the contributions could be efforts to sway the new administration’s decisions on policy or lessen regulatory hurdles.
A number of organizations that provide funding, including Amazon, Google, Microsoft, and Ripple, are currently facing federal investigations due to several legal disputes.
The lawmaker expressed concern that these contributions may indicate corruption and undue corporate influence within the Trump administration, implying a need for transparency to satisfy both Congress and the public.
American legislators voiced worry that these donations could sway regulatory oversight. They highlighted that the financial support could potentially strengthen their hand in ongoing court cases and investigations concerning these corporations.
if not addressed, these tech monopolies could infringe upon consumers’ rights, mistreat employees, suppress competition, and hinder innovation.
In this context, lawmakers requested thorough information about the donation made by OpenAI’s company. They were particularly interested in knowing if the board had approved the donation, the individuals involved, and any communication with Trump’s transition team. By January 31, 2025, they expected a complete response to these queries.
Despite the assumption, Altman made it clear that his contribution was on a personal level. On January 17th, through a tweet, he voiced his bewilderment over the inquiry, expressing: “I’m confused about this query.
“It was a personal contribution… my company did not make a decision.”
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2025-01-19 00:04