Which crypto companies "paid tribute" to Trump's inauguration?
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Which crypto companies "paid tribute" to Trump's inauguration?
In the days leading up to Donald Trump's inauguration on January 20, numerous prominent cryptocurrency companies have spent millions of dollars to support events celebrating the new president's return to the White House.
Navigating Web3 tides with focused insightsSource: Decrypt
Translation: Bitpush News
After heavily participating in the 2024 U.S. election, American crypto companies are doubling down on political spending this year—splashing millions on Donald Trump’s inaugural committee.
Trump's inauguration fund covers lavish dinners, parties, parades before and after the new president's swearing-in ceremony, as well as the formal event itself. Donating to the inaugural committee is a common and logical move for corporations and entrepreneurs eager to win favor with the new president and connect with government officials during Washington’s most important night.
In the lead-up to Trump’s January 20 inauguration, numerous prominent cryptocurrency firms have already committed millions to support the former president’s first evening back in the White House.
The New York Times, citing knowledgeable sources, reported that Trump’s inaugural committee has raised over $170 million, with some seven-figure donors being placed on waiting lists or informed they may not receive VIP tickets at all—because they’ve sold out.
The fundraising total already sets a record for U.S. presidential inaugurations. While Trump’s 2017 inaugural committee raised $107 million, the current effort is aiming close to $200 million, according to someone familiar with the fundraising efforts.
Although official disclosures of donations have not yet been filed, below is a full list of known crypto company contributions as of January 9, 2025.
Ripple
Ripple, one of the leading forces behind the crypto industry’s historic political spending campaign in 2024, confirmed to Decrypt through a spokesperson that it will donate XRP worth $5 million to Trump’s inauguration fund. XRP is a cryptocurrency co-developed by Ripple’s founders that powers the company’s financial services platform.
Ripple provides blockchain infrastructure for financial institutions and holds a large amount of XRP. In the weeks following Trump’s re-election on November 5, the value of XRP held in Ripple’s custody surged by more than $85 billion.
Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty recently met with Trump this week.
Over the past 24 hours, XRP has outperformed other major crypto assets, currently trading at $2.32.
Robinhood
Robinhood, the popular trading app that has aggressively expanded its cryptocurrency offerings in recent years, confirmed via a spokesperson to Decrypt that it donated $2 million to Trump’s inaugural committee.
Mary Elizabeth Taylor, Robinhood’s Vice President of Global Government and External Affairs, said in a statement shared with Decrypt: “Robinhood is excited to welcome a new era of American innovation and sensible regulation that promotes free markets, investor access, and consumer choice. We look forward to working with President Trump and the new administration to drive positive market change, advocate strongly for our customers, and pursue our mission of democratizing finance for all.”
Coinbase
Coinbase, another key player in the crypto sector’s historic political push in 2024, confirmed to Decrypt through company representatives that it recently donated $1 million to Trump’s inauguration fund.
Coinbase was among the first crypto firms to make such a donation in the days before Christmas.
Kara Calvert, Coinbase’s Vice President of U.S. Policy, said in a statement shared with Decrypt: “Coinbase is committed to working with the government and bipartisan members of Congress to establish clear regulatory frameworks for crypto. Early engagement is critical. That’s why Coinbase committed to supporting President Trump’s transition before the election and ultimately his inauguration.”
Circle
Circle, the issuer of top U.S.-based stablecoin USDC, announced Thursday that it donated tokens worth $1 million to support Trump’s inauguration.
Jeremy Allaire, Circle’s CEO, posted on X Thursday: “We’re proud to be building a great American company, and the fact that the committee accepts USDC payments shows how far we’ve come and the potential and power of digital dollars.”
Trump’s enthusiastic acceptance of cryptocurrency donations dates back to the height of his presidential campaign, when industry leaders gifted him various tokens worth over $3 million.
Kraken
According to company representatives, U.S. cryptocurrency exchange Kraken has donated $1 million to Trump’s inauguration fund.
The exchange’s founder, Jesse Powell, personally donated Ethereum worth $845,000 to the president-elect’s campaign team last summer.
Moonpay
Moonpay, a digital payment platform that simplifies retail crypto purchases, confirmed to Decrypt through a spokesperson that it recently contributed to support the president-elect’s inauguration, though the spokesperson declined to comment on the donation amount.
Ondo Finance
New York-based Ethereum asset management firm Ondo Finance donated $1 million to Trump’s inauguration at the end of last month.
In February last year, Ondo became the first company to tokenize U.S. Treasury bonds. As one of the largest issuers of tokenized securities on Ethereum, Ondo plays a pivotal role in bringing tokenized securities—a nascent asset class—into the mainstream.
Trump’s inauguration events will begin on January 17 local time. According to the latest event schedule, donors who contribute $1 million or raise $2 million will gain access to six different events, including the swearing-in ceremony and a “candlelight dinner” with Trump and his wife Melania on January 19, marketed as the weekend’s “culminating event.”
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