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News

Donald Trump Presidential Campaign Raises $4 Million in Cryptocurrency Donations

July 25, 2024 - Around 2 mins mins to read

Key Points:

  • Donald Trump presidential campaign has collected over $4 million in cryptocurrency donations.
  • Trump has embraced cryptocurrency, launching an NFT collection and receiving support from major tech investors.
  • Trump will host a high-profile fundraiser and speak at The Bitcoin Conference in Nashville.
According to CNBC, Donald Trump presidential campaign has significantly increased the amount of money raised through cryptocurrency donations, now amounting to more than $4 million.
Donald Trump Presidential Campaign Raises $4 Million in Cryptocurrency Donations

Read more: Donald Trump Presidential Campaign Now Receiving Support From Technology Investors

Donald Trump Presidential Campaign Secures $4 Million in Crypto

The contributions—of Bitcoin, Ether, Ripple’s XRP, USDC, and various memecoins—brought the total takings for the “Trump 47” joint fundraising committee to more than $118 million between April 1 and June 30.

The list of donors included cryptomoguls Tyler and Cameron Winklevoss, who each gave nearly $1 million in Bitcoin. Part of it had to be returned because of donation limits. BitGo CEO Mike Belshe donated $50,000 in Bitcoin. Other similarly massive donations came from Kraken founder Jesse Powell and Ripple’s Stuart Alderoty, who donated nice amounts in Ether and XRP.

While this new embrace of cryptocurrency might shock one as coming from Trump, it was a man who was formerly skeptical of crypto. He created an NFT collection on Solana blockchain and presented himself as a crypto candidate to many. That earned him some prominent tech and crypto investors like Marc Andreessen and Ben Horowitz.

High-Ticket Fundraiser and Bitcoin Conference Keynote in Nashville

Trump is featured to speak at The Bitcoin Conference in Nashville, and he will hold a high-ticket fundraiser that same day for top-tier tickets priced at $844,600 each. While the Donald Trump presidential campaign does convert most cryptocurrency donations into USDC, some are held as-is.

As part of an extensive outreach bid for crypto enthusiasts, the former president promised to protect digital asset custody besides opposing regulatory efforts taken by the likes of Senator Elizabeth Warren. If he gets elected once again, future Bitcoin mining should be done inside the United States. Trump further said that his running mate choice in Ohio Senator JD Vance is a net plus for the crypto industry, stating that Vance also supports less strict regulation.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.