Ripple, Kraken, Coinbase Circle Donate To Trump’s Inaugural Fund
Circle, the company that issues USDC, said it had donated $1 million worth of the token. In addition, Kraken, an American cryptocurrency exchange, has contributed $1 million to Trumpβs inaugural fund. Trumpβs inaugural fund will receive $5 million worth of XRP as a gift from Ripple.
Consequently, Coinbase stated it contributed $1 million to Trumpβs inauguration fund.Β The listed digital exchange was among the first cryptocurrency companies to make such a donation available.
Coinbase Vice President for US Policy Kara Calvert stated, βCoinbase is committed to working with the administration and both sides of Congress to create regulatory clarity for crypto, and itβs important to engage early to hit the ground running.β.Β The American-listed crypto exchange pledged to assist President Trumpβs transition and, eventually, his inauguration.
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Ripple supplies financial institutions with blockchain infrastructure, and has a huge XRP reserve. The value of the companyβs escrowed collection of XRP has increased by over $85 billion in the weeks since Trump was re-elected on November 5.
Trump and Vanceβs inauguration will be celebrated with an inaugural ball hosted by the cryptocurrency industry. BTC Inc. and Stand With Crypto will host the occasion, in the Andrew W. Washington, DC, on Friday, January 17, 2025, at Mellon Auditorium.
Industry leaders are vying for a seat on the proposed crypto advisory council, which is anticipated to be established shortly after Trump assumes office and access to Trump himself.
The council may consist of roughly two dozen CEOs and founders, which industry insiders plan to use to influence the incoming administrationβs digital-asset policies. Β Potential appointees are still being considered by Trump and his inner circle, which includes David Sacks, the incoming White House AI and crypto czar.
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