2024-12-21 04:07 |
Ripple has pledged $5 million worth of XRP to support the inauguration celebrations for President-elect Donald Trump and Vice President-elect J.D. Vance in January.
Other crypto firms, including Coinbase, Kraken, and Ondo Finance, have also announced significant donations to the inauguration fund.
Crypto Companies Are Contributing Over $8 Million to Trump’s InaugurationAccording to Fox Business reports, Coinbase and Kraken each contributed $1 million to the Trump-Vance Inaugural Committee.
This committee is organizing a series of events, including galas, parades, and dinners, to celebrate the November election victory. The three-day celebration will take place around the January 20 swearing-in ceremony.
Meanwhile, Ondo Finance is also reportedly donating $1 million to the inaugural fund. The announcement follows ONDO’s all-time high at $2.14 earlier this week, fueled by a $250,000 investment from World Liberty Financial, a crypto project backed by Trump.
“Ripple Makes Record-Breaking Donation To Trump. Ripple just donated $5M in XRP to fuel Trump’s $200M inauguration stash. This is the biggest crypto donation ever made. Crypto’s not just an alternative investment vehicle anymore, we’re seeing it reshape the world of politics in real-time,” Mario Nawfal wrote on X (Formerly Twitter).
However, the donations come with several perks for these crypto leaders. Those contributing $1 million or raising $2 million will receive six tickets to exclusive events over the inauguration weekend.
These events include a dinner with Trump and Vance and a reception with members of Trump’s incoming Cabinet, among other opportunities. This will allow the perfect opportunity for companies like Ripple and Ondo to establish a more favorable influence on the new government.
Crypto Donations Take Center StageCrypto donations have played a significant role in the current political cycle. As BeInCrypto reported earlier, three crypto-affiliated super PACs collectively contributed $133 million to election campaigns. Ripple, Coinbase, and Jump Crypto were among the top contributors.
After the election, Ripple CEO Brad Garlinghouse donated an additional $25 million to Fairshake, a pro-crypto super PAC. The group has already raised $103 million for the 2026 midterm elections.
Since Trump’s re-election, crypto executives have sought direct engagement with the incoming administration. Earlier this month, Crypto.com CEO Kris Marszalek met with Trump to discuss crypto-friendly policies and financial appointments.
Coinbase CEO Brian Armstrong also had a private meeting with Trump last month, reportedly focusing on potential personnel choices for the administration.
These efforts have already yielded results. SEC Chair Gary Gensler has stepped down, and Paul Atkins, a pro-crypto advocate, has been appointed as his replacement.
Additionally, Trump has named David Sacks as the first-ever AI and Crypto Czar. With these developments, the cryptocurrency industry appears poised to influence key decisions during Trump’s presidency.
The post Ripple to Donate $5 Million in XRP to Trump’s Inauguration in January appeared first on BeInCrypto.
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