Circle donates $1 million for Trumps inauguration
Circle donates $1M in USDC to Trump’s inaugural committee, marking a milestone for stablecoins
Circle, one of the largest players in the cryptocurrency space, has made a bold statement by contributing $1 million in USDC to President Donald Trump’s inaugural committee.
Circle CEO Jeremy Allaire emphasized the milestone, saying, “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”, reports Cryptopolitan.
This marks a significant moment for digital assets as Trump, now a vocal crypto advocate, leverages his inauguration to showcase blockchain-backed finance. Circle’s donation highlights growing acceptance of stablecoins in mainstream financial transactions.
Tech Titans and Crypto Leaders Pour in Support
Circle is just one of many heavyweights supporting Trump’s inauguration. Google, OpenAI’s Sam Altman, and Meta also contributed $1 million each, while Apple and Amazon joined the list of prominent backers. However, the crypto industry has taken center stage, spearheading a historic fundraising effort.
The Federal Election Commission (FEC) reports that blockchain-related groups raised a staggering $245 million during the last election cycle. This financial clout helped propel nearly 300 pro-crypto lawmakers into Congress, solidifying the industry’s influence in Washington.
Crypto Elite Drive Inaugural Donations
High-profile figures in the crypto world have made significant contributions to Trump’s inaugural fund: • Ripple co-founder Chris Larsen led with $12 million. • The Winklevoss twins, founders of Gemini, contributed $10.1 million. • Coinbase CEO Brian Armstrong donated $1.3 million, supporting both Republican and Democratic candidates.
Other major contributors included Kraken chairman Jesse Powell ($1 million), Multicoin Capital’s Kyle Samani ($878,600), and Paradigm co-founder Fred Ehrsam ($735,400).
A Strategic Power Play
The crypto industry’s unprecedented financial support underscores its commitment to shaping a favorable regulatory landscape. With Trump’s pro-crypto agenda and a Congress stacked with blockchain advocates, the industry aims to drive innovation and secure its place in the global financial system.
Recently we wrote, that as Donald Trump prepares to take office on January 20, the cryptocurrency industry is lobbying the incoming administration to establish a federally-backed US Bitcoin reserve.
