Key takeaways
- Circle donated US$1 million to President-elect Donald Trump’s inaugural committee.
- The Trump-Vance inaugural committee aims to raise $150 million for inauguration events.
Share this article
Circle joined Ripple, Coinbase and Kraken in supporting President-elect Donald Trump’s inaugural committee. Circle co-founder and CEO Jeremy Allaire announced today that the company has just donated US$1 million to Trump’s inauguration.
“We’re excited to build a great American company,” Allaire said, noting that the Committee’s acceptance of USDC demonstrates “how far we’ve come, and the potential and power of digital dollars.”
Created to oversee events for Trump’s second inauguration, the Trump-Vance inaugural committee set a fundraising goal of $150 million. According to ABC News, contributions have already reached this milestone since last December.
Top tech executives have pledged substantial donations, including $1 million each from Amazon’s Jeff Bezos, OpenAI CEO Sam Altman and Meta’s Mark Zuckerberg, CNBC reported last month. Robinhood Markets committed $2 million, while Uber and CEO Dara Khosrowshahi each pledged $1 million.
Unlike donations from political action committees, contributions from inaugural committees have no limits. These funds will be used to support various inaugural events such as galas and parades.
Trump’s inauguration is scheduled for January 20, 2025 at 12 p.m. ET. The major event will take place at the United States Capitol in Washington, DC, marking Trump’s return to the presidency for a second non-consecutive term.
The crypto industry is poised for major developments as Trump prepares to take office. The new administration is expected to foster a more favorable regulatory environment for crypto assets in the United States, thereby encouraging other countries to follow suit.
With the transition to a new administration, there is potential for clearer guidelines regarding crypto regulation, which could ease uncertainty for both investors and businesses. The anticipated policy change could encourage greater participation by financial institutions in the crypto market.
Share this article
