Pro-Crypto Donald Trump Inauguration Breaks $200M Fundraising Record

Published by

Vignesh S G

December 21, 2024

Donald Trump’s inauguration on January 20, 2025, is shaping up to be one of the most extravagant in U.S. history. With massive funds raised and big names backing the event, all eyes are on what could be a historic celebration.

The inauguration committee has already collected $200 million, and the fund is expected to cross $225 millioThe inauguration committee has already raised $200 million, with expectations that the total will surpass $225 million before the big day.

Surprisingly, much of this funding comes from the cryptocurrency industry, marking a first in U.S. political history.

Why Crypto Giants Are Backing Trump

Trump ran his campaign as a pro-crypto candidate, pledging to remove restrictive policies and promising a regulatory framework to help the crypto sector grow. This clear stance has gained him significant support from major players in the digital asset space.

Ripple, locked in a legal battle with the SEC, has reportedly contributed over $5 million to the inauguration fund. Other major crypto companies like Coinbase and Kraken have also joined in, each donating at least $1 million.

Some firms, such as MoonPay, have declined to disclose their contributions, adding a layer of intrigue to their involvement.

A Pro-Crypto Cabinet in the Making

Trump’s presidency could bring sweeping changes for cryptocurrency regulation. His first big move: appointing pro-crypto advocate Paul Atkins to replace Gary Gensler as SEC chairman on Inauguration Day.

Reports suggest that Trump plans to fill his cabinet with other crypto-friendly figures, including Scott Bessent and Howard Lutnick. Ripple CEO Brad Garlinghouse has welcomed these appointments, calling them a “fresh start” for the crypto industry.

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Big Tech Joins In

It seems that not just the crypto industry, but also the entire technology sector is enthusiastic about the beginning of the presidency of Republican leader Donald Trump.

Among top tech company figures who have contributed to the inauguration fund are Jeff Bezos, Mark Zuckerberg and Sam Altman.

Reports say that each of these three top tech leaders has donated $1 million to the inauguration fund.

With Trump’s pro-crypto administration taking shape, the strong support from the cryptocurrency and tech industries highlights growing excitement for a more innovation-friendly environment.

Vignesh S G

Vignesh is a young journalist with a decade of experience. A proud alumnus of IIJNM, Bengaluru, he spent six years as a Sub-Editor for a leading business magazine, published from Kerala. His interest in futuristic technologies took him to a US-based software company specialising in Web3, Blockchain and AI. This stint inspired him to view the future of journalism through the lens of next generation technologies. Now, he covers the crypto scene for Coinpedia, uncovering a vibrant new world where technology and journalism converge.