In a significant move, several American crypto-related firms have contributed millions to Donald Trump’s inauguration committee as part of a trend of political spending. This funding aids the celebrations surrounding the inauguration and is utilized by companies to gain favor with new administrations. Leading the donations is Ripple, which contributed $5 million worth of XRP, followed by Robinhood with $2 million, Coinbase with $1 million, Circle with $1 million in USDC, Kraken with a $1 million donation, and Ondo Finance with another $1 million. Moonpay has also made a contribution, the amount of which remains undisclosed. These donations occur despite the inaugural committee's fundraising efforts targeting high rollers. The crypto industry has historically engaged with Trump, evidenced by donations during previous campaigns, emphasizing a strategy for regulatory clarity in the evolving digital currency landscape.

Source 🔗