After sparing no expense on the 2024 election, American crypto-related firms are doubling down on lavish political spending—by donating in droves to Donald Trump’s inauguration committee.
Inaugural funds like Trump’s pay for the days of lavish dinners, parties, and parades that typically surround an incoming president’s swearing-in, as well as the official ceremony itself. Donations to inaugural committees are commonplace for corporations and wealthy individuals seeking to curry a new president’s favor and hobnob with members of their administration on one of Washington’s biggest nights.
In the lead-up to Trump’s inauguration on January 20, numerous prominent crypto companies have dished out millions to aid the incoming president’s first night back in office. Remarkably, some appear to have shelled out seven-figure sums to Trump’s inaugural committee even after the organization ran out of coveted perks for high rollers.
While public disclosures about the donations have not yet been filed, here’s a rundown of every crypto-related company known to have donated so far.
Ripple
Ripple, one of the chief architects of crypto’s historic 2024 political spending push, is gifting Trump’s inaugural fund $5 million worth of XRP, a company spokesperson confirmed to Decrypt. XRP is a cryptocurrency that Ripple’s founders helped develop, and it powers the company’s financial services platform.
The firm, which provides blockchain infrastructure to financial institutions, has plenty more XRP to spare. In the weeks following Trump’s re-election on November 5, the company’s escrowed stash of XRP has grown in value by more than $85 billion.
Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty just met with Trump this week.
Robinhood
Popular trading app Robinhood, which has aggressively expanded its crypto offerings in recent years, donated $2 million to Trump’s inauguration committee, a company spokesperson confirmed with Decrypt.
“Robinhood is pleased to welcome in a new era of American innovation and sensible regulation that promotes free markets, investor access, and consumer choice,” Mary Elizabeth Taylor, Robinhood’s Vice President of Global Government and External Affairs, said in a statement shared with Decrypt. “We look forward to working with President Trump and the incoming administration to drive positive change in the markets, be an active voice for customers, and pursue our mission to democratize finance for all.”
Coinbase
Coinbase, another crypto firm that was instrumental to the industry’s historic political push in 2024, recently donated $1 million to Trump’s inauguration fund, a company representative confirmed with Decrypt.
Coinbase was one of the first crypto firms to offer such a donation, days before Christmas.
“Coinbase is committed to working with the administration and both sides of Congress to create regulatory clarity for crypto, and it’s important to engage early in order to hit the ground running,” Coinbase Vice President for US Policy Kara Calvert said in a statement shared with Decrypt. “That’s why Coinbase committed to supporting President Trump’s transition and ultimately his inauguration well ahead of the election.”
Circle
Circle, the issuer of USDC—America’s top homegrown stablecoin—announced Thursday that it gifted $1 million worth of the token to support Trump’s inauguration.
“We are excited to be building a great American company, and the fact that the Committee took payment in USDC is an indicator of how far we have come, and the potential and power of digital dollars,” Circle CEO Jeremy Allaire said in a post to X on Thursday.
Trump has eagerly accepted crypto donations stretching back to the height of his presidential campaign, when industry leaders gifted him over $3 million in a variety of tokens.
Kraken
Kraken, the American crypto exchange, has donated $1 million to Trump’s inaugural fund, according to a company representative.
The exchange’s outspoken founder, Jesse Powell, personally gave $845,000 worth of Ethereum to the president-elect’s campaign last summer.
Moonpay
Moonpay, a digital payments platform that streamlines how retail users purchase crypto, recently donated to support the president-elect’s inauguration, a company spokesperson confirmed with Decrypt. The spokesperson declined to comment on the size of the donation.
Ondo Finance
Ondo Finance, an Ethereum asset manager based in New York, donated $1 million to Trump’s inauguration late last month.
Last February, Ondo became the first company to tokenize U.S. Treasuries. It is one of the largest issuers of tokenized securities—an increasingly popular asset class—on Ethereum.
Edited by Andrew Hayward
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