American cryptocurrency companies and businessmen donated $18 million for the inauguration of US President Donald Trump.
Trump’s inauguration ceremony on January 20 attracted a record-high $239 million in donations, according to a report filed with the Federal Election Commission. Accordingly, firms and individuals working in the digital asset market contributed 7,5% of the funds.
The ranking of crypto companies by the size of donations to Donald is headed by:
- Issuer XRP (XRP) Ripple, who transferred $4,89 million;
- Trading platform Robinhood, which transferred $2 million;
- Stablecoin creator Circle, exchange Coinbase and seven other organizations have donated $1 million each.
Donations for Donald Trump’s Inauguration from Crypto Companies and Entrepreneurs
Under Trump’s predecessor Joe Biden, the U.S. Securities and Exchange Commission (SEC) prosecuted numerous digital asset players for illegally selling securities as virtual currencies. The regulator targeted, for example, Ripple and Coinbase.
In defiance of Biden, Donald positioned himself as a pro-cryptocurrency presidential candidate, so businesses whose business is closely tied to digital assets supported him both financially and morally. Trump lived up to the expectations of businessmen because he formed an administration friendly to cryptocurrencies and achieved the appointment Paul Atkins, who is known for his positive attitude towards virtual currencies, has been nominated to head the SEC.
Risk Warning:
The information on this website is for informational and educational purposes only and does not constitute investment advice or financial recommendations. Cryptocurrencies and digital assets carry a high level of risk, including possible loss of capital. The editors are not responsible for decisions made based on the published materials. It is recommended that you conduct your own research (DYOR) before making any investment decisions.