- Trump PAC has raised about $7.5 million in crypto, including Bitcoin, Ether, XRP, Tether, and USDC.
- Coinbase, Ripple & Andreessen Horowitz donated 13x more than their investments in the last election.
- Elon Musk has become the Republican “mega-donor” to America PAC with $75 million in donations.
Trump PAC, a political action committee formed by former President Donald Trump, has raised about $7.5 million in cryptocurrency, including Bitcoin, Ether, XRP, Tether, and USDC. According to a Federal Election Commission (FEC) filing submitted on Tuesday, the pro-crypto candidate received a significant amount of crypto funding from July 1 through September 30. This demonstrates the growing acceptance of cryptocurrencies in election campaigns and highlights Trump’s endorsement of digital assets.
A recent report revealed that nearly half of the corporate donations invested in Trump’s political fundraising came from the crypto industry. Leading players like Coinbase, Ripple, and Andreessen Horowitz collectively donated 13 times more than their contributions in the previous election cycle.
Notably, Bitcoin and Ether were the largest contributors, with donors investing substantial amounts in the PAC. About 18 donors contributed over $5.5 million in Bitcoin to the committee. Meanwhile, around seven individuals invested approximately $1.5 million in Ether. Among the prominent donors was David Bailey, CEO of BTC Inc., who donated more than $498,000 in Bitcoin. Chase Herro, a co-founder of Trump’s World Liberty Project, has emerged as a new donor to the PAC.
Meanwhile, tech billionaire Elon Musk has become a major Republican mega-donor, supporting America PAC, a Super PAC created by Musk to back Trump’s 2024 presidential campaign. Over a span of three months, Musk contributed $75 million to the PAC, making him Trump’s most significant financial backer. America PAC is focusing its efforts on key battleground states such as Arizona, Georgia, Michigan, and Nevada to energize Trump supporters. Reports indicate Musk has spent more than $72 million in these states.
Read also: Donald Trump Champions Bitcoin at Crypto Convention
Trump’s pro-crypto stance has resonated with the crypto community. As the first U.S. president to accept cryptocurrency donations during his campaigns, Trump has positioned himself as a pro-crypto leader, leaving the community optimistic about a brighter crypto future under his leadership.
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