- Ondo Finance, Ripple, and Kraken have pledged significant donations to Donald Trump’s inauguration fund.
- Ripple made a historic contribution of $5 million in XRP tokens to support the inauguration.
Since December 6th, following Donald Trump’s victory in the U.S. presidential election, the global cryptocurrency industry has been more excited than any other industry. To validate this, prominent companies in the cryptocurrency industry show strong support for President-elect Donald Trump by pledging millions to his inauguration fund, signaling their belief in his pro-crypto policies.
Among the supporters, Nathan Allman, the founder of Ondo Finance Inc., has announced the company’s commitment to donate $1 million to the fund. In a Dec 21 post on X (formerly Twitter), Ondo Finance expressed enthusiasm about backing an administration that aims to “boost America’s global financial leadership through digital innovation.” Ondo also hopes to collaborate with policymakers to improve access to U.S. financial markets and strengthen their global competitiveness.
Additionally, Kraken, a leading crypto exchange, has also contributed $1 million to the inauguration fund, as per Fox News. Further, Ripple has made a historic donation of $5 million in XRP tokens to the inaugural committee. Ripple CEO Brad Garlinghouse had earlier revealed the company’s plans to support the festivities.
The funds will help organize celebratory events surrounding Trump and Vice President-elect JD Vance’s swearing-in on January 20.
Crypto Leaders Continue Support for Trump with Major Contributions
This is not the first instance of cryptocurrency leaders supporting Trump. Figures like Kraken co-founder Jesse Powell and Gemini co-founders Tyler and Cameron Winklevoss have previously contributed to his reelection campaign and related super PACs.
During the 2024 election cycle, crypto-focused super PACs spent a staggering $133 million, with significant contributions from Coinbase, Ripple, and Jump Crypto, according to OpenSecrets. Notably, Coinbase had already committed $1 million to the inauguration fund before the election results were finalized.
With the new administration being hailed as the most crypto-friendly in U.S. history, companies like Coinbase are optimistic about working closely with policymakers to establish regulatory clarity and accelerate the growth of the digital asset industry in America.
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