As January 20th approaches, what are the encryption companies that will contribute to Trump’s inauguration?

Source: Decrypt

Compiled by: BitpushNews

After investing heavily in the 2024 election, U.S. crypto companies are doubling down on political spending again this year—spending heavily on Donald Trump’s inaugural committee.

Trump's inaugural fund is used to pay for the lavish dinners, parties and parades surrounding the new president's inauguration, as well as the formal ceremony itself. Donating to inaugural committees is logical and commonplace for companies and entrepreneurs hoping to curry favor with the new president and mingle with members of the administration on Washington's biggest night.

Ahead of Trump's inauguration on January 20, many well-known cryptocurrency companies have invested millions of dollars to support the new president's first night back in the White House.

According to the New York Times, citing people familiar with the matter, Trump's inaugural committee has raised more than $170 million, and some seven-figure donors were put on wait lists or told they might not get VIP tickets at all because: Tickets have been sold out Sold out.

Trump has already raised a record amount for an inauguration. Trump's 2017 inauguration committee raised $107 million, and the current inauguration committee is trying to raise close to $200 million, according to a person familiar with the fundraising.

While public disclosures about the donations have not yet been filed, here are all known crypto company profiles so far (January 9, 2025).

Ripple

Ripple, one of the key players behind the crypto industry’s historic political spending plans for 2024, will be giving away $5 million worth of XRP to Trump’s inaugural fund, a company spokesperson confirmed to Decrypt. XRP is a cryptocurrency that Ripple’s founders helped develop and powers the company’s financial services platform.

Ripple, which provides blockchain infrastructure to financial institutions, holds a large amount of XRP, and in the weeks following Trump's re-election on November 5, the value of the XRP held by the company increased by more than $85 billion.

Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty just met with Trump this week.

XRP has outperformed other major crypto assets over the past 24 hours and is currently trading at $2.32.

Robinhood

Popular trading app Robinhood, which has aggressively expanded its cryptocurrency offerings in recent years, donated $2 million to Trump's inaugural committee, a spokesperson confirmed to Decrypt.

Mary Elizabeth Taylor, Robinhood’s vice president of global government and external affairs, said in a statement shared with Decrypt: “Robinhood is excited to usher in a new era of innovation and sound regulation in the United States that will promote free markets, investor access, and consumers. Choice." "We look forward to working with President Trump and the new administration to drive positive change in the market, actively advocate for customers, and pursue our mission of democratizing finance for all."

Coinbase

Coinbase, another cryptocurrency company that played a major role in the industry's historic political push in 2024, recently donated $1 million to Trump's inaugural fund, a company representative confirmed to Decrypt.

Coinbase was one of the first cryptocurrency companies to offer such a donation just days before Christmas.

Kara Calvert, vice president of U.S. policy at Coinbase, said in a statement shared with Decrypt: “Coinbase is committed to working with the government and Congress on both sides of the aisle to develop clear regulations for cryptocurrencies, and it is important to get involved early. That’s why Coinbase is committed to Support President Trump’s transition of power before the election and ultimately his inauguration.”

Circle

Circle, the issuer of USDC, the top domestic stablecoin in the United States, announced on Thursday that it would donate $1 million worth of tokens to support Trump’s inauguration.

Circle CEO Jeremy Allaire said in a post to Potential and power.”

Trump’s eager acceptance of cryptocurrency donations dates back to the height of his presidential campaign, when industry leaders gifted him over $3 million worth of various tokens.

Kraken

U.S. cryptocurrency exchange Kraken has donated $1 million to Trump's inaugural fund, according to a company representative.

The exchange’s founder, Jesse Powell, personally donated $845,000 worth of ether to the president-elect’s campaign last summer.

Moonpay

Moonpay is a digital payments platform that simplifies the way retail investors buy cryptocurrencies. A spokesperson for the company confirmed to Decrypt that the company recently made a donation to support the president-elect's inauguration, declining to comment on the amount of the donation.

Ondo Finance

Ondo Finance, a New York-based ethereum asset management company, donated $1 million to Trump’s inauguration late last month.

Last February, 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 key role in driving the emerging asset class of tokenized securities into the mainstream.

Trump's inauguration activities will begin on January 17, local time. According to the latest event listing, those who donate $1 million or raise $2 million will be entitled to six tickets to six different events, including the swearing-in ceremony and a Jan. 19 event with Trump and his wife Melania A "candlelight dinner" was promoted as the "final event" of the weekend.