Ripple, Coinbase lead $10 million crypto donation to Trump’s inauguration 

Ripple, Coinbase, Kraken, Circle, and Robinhood collectively donated over $10 million to Trump’s inauguration fund, demonstrating the crypto industry’s commitment to President Donald Trump.

This follows the industry’s substantial financial support for Trump’s campaign, with hopes for a crypto-friendly administration.

Ripple, the issuer of XRP, has pledged $5 million worth of its native coin. CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty, who recently met Trump at Mar-a-Lago, have been invited to the inauguration. They have transitioned from battling court cases under President Biden to securing a place at the table.

Coinbase and Kraken, the two largest crypto exchanges in the U.S., each donated $1 million. Coinbase CEO Brian Armstrong has been in Washington since Election Day and has met with Trump twice to discuss crypto-friendly reforms.

Circle, the company behind USDC, also contributed $1 million, while Robinhood, popular among retail traders, donated $2 million. Additionally, Trump launched a meme token on Solana, the OFFICIAL TRUMP (TRUMP) token, which saw a 9,000% increase in the past 10 hours.

“This is a moment of celebration for the industry,” said Kristin Smith, CEO of the Blockchain Association, a leading crypto trade association.

There is little doubt that Trump will support the industry now. Expectations of numerous crypto-friendly executive orders during his first 100 days are no longer unfounded.

Big Tech is also making its presence felt. Amazon, Apple, Google, Meta, and Microsoft each donated $1 million to the inauguration fund. OpenAI CEO Sam Altman made a personal $1 million donation.

Legendary rapper Snoop Dogg headlined the event, sponsored by Stand With Crypto, Exodus, Anchorage Digital, and Kraken. David Bailey, the organizer of last summer’s Bitcoin conference where Trump made his promises, was behind the event.