TechFlow news, on October 16, according to CNBC, documents released by the U.S. Federal Election Commission (FEC) show that Trump 47 Committee, a political action committee supporting former President Donald Trump's campaign, has raised approximately $7.5 million in cryptocurrency donations since early June 2024.
FEC filings indicate the report covers contributions between July 1 and September 30, 2024, including cumulative donations. Donors contributed Bitcoin, Ethereum, XRP, and USDC to the committee. Specifically, at least 18 donors contributed over $5.5 million in Bitcoin, while another seven donated around $1.5 million worth of Ethereum.
Donors are spread across more than 15 states, including several swing states, as well as the U.S. territory of Puerto Rico. David Bailey, CEO of media group BTC Inc., donated over $498,000 worth of Bitcoin. Bailey is considered one of the key figures who helped shift Trump's stance on cryptocurrency.
Among industry contributors, Ripple’s Chief Legal Officer Stuart Alderoty donated $300,000 in XRP. However, Ripple’s billionaire co-founder Chris Larsen donated $1 million worth of XRP to Future Forward, a super PAC supporting Vice President Kamala Harris’s campaign.
