Crypto companies including Ripple are donating millions to fund US President-elect Donald Trump’s inauguration celebrations.
According to a report by FOX Business, Ripple has pledged to donate $5 million worth of XRP to the Trump-Vance inaugural committee. This organization is responsible for financing the three-day inauguration ceremony of Trump and his running mate JD Vance following their victory in the presidential election last month.
Specifically, the activities, including dinners, parades and galas, will take place before and after Trump’s inauguration on January 20, 2025. FOX Business claimed that the company had confirmed its contribution to the fund.
Donations from other crypto companies
In addition to Ripple, other well-known crypto companies have also donated large amounts to the Trump-Vance inaugural committee. Notably, US crypto exchanges Coinbase and Kraken donated $1 million each.
Other crypto companies such as MoonPay and Robinhood have also promised to contribute to the fund. However, they did not provide any information about the exact amount of their future donations.
Despite the crypto organizations’ contributions, their donations represent only a fraction of the $200 million the fund has raised to date. Interestingly, a source close to the fund expressed confidence that the figure could rise to $225 million before January 20.
Trump gains crypto support
Meanwhile, posts from crypto companies show the industry’s growing confidence in Trump. According to FOX Business, the crypto industry donated over $200 million in support of Trump throughout the election cycle.
Ripple was one of the largest financial backers in the crypto industry…
