Crypto Giants Back Trump with Millions

Circle , the second-largest stablecoin issuer, has donated $1 million in USDC to the inaugural fund for President Donald Trump and Vice President-elect J.D. Vance. This move highlights growing support from the cryptocurrency industry for the incoming administration, which has pledged to position the United States as a leader in crypto innovation. Joining Circle are Coinbase, Kraken, Ripple, and Ondo Finance, all of which have contributed significantly to the fund. Ripple donated $5 million worth of XRP, while Coinbase and Kraken each gave $1 million. Ondo Finance also contributed $1 million, following a $250,000 investment it received from Trump-linked World Liberty Financial in December. Meanwhile, Robinhood reportedly topped the list with a $2 million donation. Donors to the fund will enjoy a host of perks, such as gala tickets, receptions with Cabinet members, and private dinners with Trump and Vice President-elect Vance. Those who contribute $1 million or more will gain exclusive access to high-profile events , providing opportunities to connect with key figures in the new administration. Jeremy Allaire, CEO of Circle, celebrated the use of USDC for the donation, stating on X (formerly Twitter): “We are proud to be building a strong American company, and the acceptance of USDC by the Committee reflects the growing influence of digital dollars.” The inauguration, scheduled for January 20, will include three days of events, such as parades, galas, and dinners. So far, the inaugural fund has raised over $170 million, largely thanks to significant contributions from cryptocurrency companies and their executives. The crypto industry played a major role in the recent election cycle, with crypto-focused super PACs donating more than $133 million to various campaigns. Brad Garlinghouse, Ripple’s CEO, donated $25 million to Fairshake, a pro-crypto super PAC , which has raised over $103 million for the 2026 midterms. This underlines the sector’s influence on political funding. USDC’s market cap has grown steadily, particularly after Trump’s re-election, driven by rising demand during the ongoing bull market. Tether’s challenges in Europe due to MiCA regulations have further boosted USDC’s global appeal. Crypto’s backing of the Trump administration comes as the sector seeks regulatory clarity and aims to expand its role in shaping the economy. As part of this alignment, companies like Coinbase, Ripple, and Circle are demonstrating their commitment through substantial donations , solidifying their ties to policymakers and setting the stage for future collaboration. With the Trump-Vance administration expressing optimism about crypto innovation, the collaboration between political leaders and the crypto sector is poised to reshape the financial landscape in the coming years.