RIPPLE, COINBASE LEAD $10 MILLION CRYPTO DONATION TO TRUMP’S INAUGURATION

Ripple, Coinbase, and several other cryptocurrency companies have collectively donated over $10 million to President Trump's inauguration fund, according to a report from Politico.¹ This significant contribution highlights the growing influence of the cryptocurrency industry in American politics.

Ripple, the issuer of XRP, led the donations with a whopping $5 million commitment, followed by Coinbase and Kraken, each donating $1 million. Circle, the company behind USDC, also pitched in $1 million, while Robinhood donated $2 million. These donations are part of a record-breaking amount raised by Trump's inaugural committee, with some reports suggesting that the committee has raised over $200 million.²

The cryptocurrency industry's significant contributions to Trump's inauguration fund are likely driven by expectations of a crypto-friendly administration. Trump has promised to establish a presidential "crypto council" comprising industry leaders, which has sparked optimism among cryptocurrency enthusiasts.³

The donations have also sparked criticism from some quarters, with Senator Elizabeth Warren accusing Trump of being influenced by wealthy donors, including those from the cryptocurrency industry. Warren has been a vocal critic of the cryptocurrency industry and has called for stricter regulations.

Despite the controversy, the cryptocurrency industry's influence on American politics is undeniable. With the incoming administration expected to loosen regulatory guardrails, the industry is poised for significant growth and development.

[attachment deleted by admin]