The Cryptocurrency idustry poured millions of dollars to President Donald Trump’s inaugural committee via donations. Recent disclouser filed with the Senate Office of Public Records reveal contributions from Coinbase, Crypto.com, Galaxy Digital, Kraken and many more crypto firms.
Once a skeptic, Trump has since embraced crypto as an investor, entrepreneur and political fundraiser. These donations signifies increasing crypto industry’s influence under Trump’s administrations.
Coinbase, Crypto.com, Galaxy Digital, Paradigm Operations and Kraken, each gave $1 million, while Robinhood contributed $2 million, according to the Bloomberg report. Among large supporters of his campaign include venture capitalists Marc Andreessen and Ben Horowitz and billionaire Winklevoss twins.
Trump appointed Davis Sacks as crypro czar in the first week to lead a task force focusing on regulatory reforms and promoting digital finance technology, including the development of a national digital asset reserve.
Trump also recieved gained donations from other industries expecting favourable policies from his administrations. Chevron Corp. donated $2 million, up from $525,000 during Trump’s first inauguration. Companies from nuclear energy section, such as Oklo Inc., contributed $250,000, while clean energy players like Hanwha Q Cells America Inc. and GE Vernova donated $500,000 each.
Among Trump’s early executive actions was a freeze on permits for new offshore wind power installations, a setback for renewable energy, alongside emergency measures to boost domestic energy production.
Additional first-time donors included Amazon, Meta Platforms, Goldman Sachs, and health-care giants Bayer Corporation and Johnson & Johnson, all contributing $1 million each. More complete financial disclosures are expected by April 19 when the inaugural committee submits its report to the Federal Election Commission.
[cryptotimes]