Circle donates $1 million in USDC to Trump's inaugural committee, says CEO Jeremy Allaire

Circle's CEO Jeremy Allaire said the crypto firm has donated $1 million USDC to Donald Trump's inaugural committee, following suit of other big tech firms sending money to the president-elect.

Multiple  crypto firms, including Ripple and Coinbase, alongside tech firms such as Amazon, Google and Apple, have donated funds to Trump's inaugural committee, according to multiple news reports. 

"We are excited to be building a great American company, and 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," Allaire said in a post on X on Thursday morning. 

The crypto industry played a significant role in the 2024 elections, with millions of dollars going toward key races. Fairshake, for example, raised over $200 million in the election cycle to put behind key races, according to Open Secrets, with funding coming from large crypto firms, including Ripple and Coinbase. As a result, Washington has what some call the most pro-crypto Congress yet and support from the top, given Trump's many promises to crypto.  

An inaugural committee oversees the president's inauguration ceremony and related activities. Trump's inauguration is on Jan. 20.