President Trump's inaugural fund received a total of $18 million in donations from crypto companies and executives

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President Trump's inaugural fund received a total of $18 million in donations from crypto companies and executives

04-22 04:52

Odaily News According to Fortune magazine, Federal Election Commission documents show that US President Donald Trump held the most luxurious inauguration event in history, thanks to a record $239 million in donations from corporate supporters and executives. A considerable portion of the funds came from the crypto industry, which has been one of Trump's most active supporters: crypto companies and their executives donated $18 million to the inauguration of the 47th US President. Among all donors, Ripple Labs donated the highest amount of nearly $4.9 million, ranking second. Ripple has been engaged in a long-running lawsuit with the US Securities and Exchange Commission (SEC). Pilgrim's, one of the world's largest poultry producers, topped the list with a donation of $5 million. Online brokerage Robinhood (a considerable part of its revenue comes from crypto trading) donated $2 million. Other major donors included some of the industry’s top companies, such as trading platforms Coinbase, Kraken and Crypto.com; stablecoin issuer Circle (which recently filed to go public); and venture capital giant Paradigm, whose assets under management are close to an all-time high in 2024. The latter two donated $1 million each.

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