Company Ripple transferred $5 million to XRP for the inauguration of President-elect Donald Trump. According to the Inaugural Committee, it is the largest donation in cryptocurrency to date.
crypto exchanges Coinbase and Creak contributed $1 million in digital assets to the event. MoonPay also contributed, although it did not disclose how much.
For the first time, we have a president who truly understands the potential of disruptive technologies and supports the crypto sector.
We are excited to continue working with President-elect Trump and his administration to achieve long-needed regulatory clarity and drive the next wave of innovation,” said Co-CEO Creak Arjun Sethi.
In total, the fund raised more than $200 million for the inauguration in honor of the victory of Donald Trump and Vice President J.D. Vance. It is known that the celebrations will last three days.
The amount raised by the inaugural committee this year was a record. For comparison, during Donald Trump's first election in 2017, donations did not exceed $107 million. And for Joe Biden's inauguration in 2021, only $62 million was raised.
By January 20, 2025, when the gala event is scheduled, the total donation could reach $225 million, experts say. Industry heavyweights like Jesse Powell of Creak and Marc Andreessen of Andreessen Horowitz, confirmed that they also want to contribute to the fund.
