Rally

Jeff

<ul class="wp-block-list">
 <li>Crypto firms rally behind Trump with record donations, aiming for favorable blockchain regulations under his administration.</li>  
 <li>Coinbase, Kraken, and Ripple lead inaugural donations as pro-crypto appointments promise a brighter future for digital assets.</li>  
 <li>Tech and crypto elites unite, contributing millions to Trump’s fund, signaling a shift toward collaboration with the administration.</li> 
</ul>  
<p>FOX Business <a href="https://www.foxbusiness.com/politics/trump-inauguration-draws-big-crypto-donations" target="_blank" rel="noopener noreferrer nofollow">reports</a> that cryptocurrency firms Coinbase, Kraken, and Ripple are making contributions to Donald Trump’s upcoming inauguration. Coinbase and Kraken have each donated $1 million to the Trump-Vance inaugural committee. Ripple has pledged $5 million in XRP tokens. These donations highlight the crypto industry’s growing political influence as it seeks favorable regulatory clarity under the new administration.</p>  
<h2 class="wp-block-heading" id="crypto-firms-rally-behind-trump-administration">Crypto Firms Rally Behind Trump Administration</h2>  
<p>Coinbase, Kraken, and Ripple are among the first crypto companies to support Trump’s inauguration. Coinbase’s VP of U.S. Policy, Kara Calvert, stated that early engagement is crucial for creating a <a href="https://cryptofrontnews.com/ripple-ceo-praises-paul-atkins-appointment-as-sec-chair/" rel="noopener noreferrer nofollow">pro-crypto regulatory environment</a>. Kraken’s co-CEO, Arjun Sethi, echoed similar sentiments, emphasizing Trump’s understanding of disruptive technologies.</p>  
<p>Additionally, digital asset payment provider MoonPay has committed to the fund, though its contribution remains undisclosed. Combined with other corporate and individual donations, the fund has raised $200 million. The inaugural committee aims to hit $225 million by Inauguration Day, shattering previous records.</p>  
<h2 class="wp-block-heading" id="crypto-friendly-appointments-signal-industry-growth">Crypto-Friendly Appointments Signal Industry Growth</h2>  
<p>Trump has already taken steps to fulfil his pro-crypto promises. Notably, he nominated Paul Atkins, a crypto advocate, as the next SEC chairman. David Sacks, appointed as the <a href="https://cryptofrontnews.com/michael-saylor-praises-us-crypto-czar-david-sacks-foresees-progress/" rel="noopener noreferrer nofollow">first-ever crypto and AI ‘czar</a>,’ will oversee collaboration between regulators and the industry. These appointments signal a significant shift from the current administration’s stance.</p>  
<p>Ripple’s CEO, Brad Garlinghouse, expressed optimism about the future, citing Trump’s leadership and key appointments. Moreover, cabinet nominees, including Scott Bessent and Howard Lutnick, are known for their favorable views on blockchain and cryptocurrency.</p>  
<h2 class="wp-block-heading" id="tech-leaders-also-join-the-funding-wave">Tech Leaders Also Join the Funding Wave</h2>  
<p>Prominent tech executives, including Jeff Bezos, Mark Zuckerberg, and Sam Altman, have each <a href="https://www.cbsnews.com/news/trump-tech-ceos-meta-amazon-donate-millions-inauguration/" target="_blank" rel="noopener noreferrer nofollow">donated</a> $1 million to the fund. Robinhood’s CEO, Vlad Tenev, pledged $2 million. Their contributions indicate a growing willingness to engage with the administration, despite past criticism.</p>  
<p>The crypto industry’s record-breaking donations shows its enthusiasm for <a href="https://cryptofrontnews.com/trump-champions-cryptocurrency-as-key-campaign-strategy-differentiating-from-bidens-regulatory-approach/" rel="noopener noreferrer nofollow">Trump’s regulatory approach</a>. Consequently, these efforts could shape a more supportive environment for innovation in blockchain and digital assets.</p>

Coinbase, Kraken, and Ripple Back Trump’s Inaugural Fund, Will this Shape Crypto Future?

Table of Contents

CFN

Other articles published on Dec 21, 2024

MicroStrategy’s Bitcoin-Backed Debt: Safe for Seven Years, Says Scaramucci

If ETH ‘pullback continues,’ a $3K retrace remains in play — Analyst

Michael Saylor: Bitcoin as a national asset for US Treasury could generate $81 trillion

Brian Quintenz Emerges as Front-Runner for CFTC Chair Role Under Trump

Oversubscribed DAO Maker Round Sets Stage for Nexade's Gate.io Debut and Token Launch

Crypto Gaming Innovation: VCs Bet on These Top Projects

Join our free newsletter for daily crypto updates!