Ripple contributed $5M in XRP to fund Trump-Vance inaugural events, highlighting growing crypto support for pro-crypto government policies.
Coinbase and Kraken also donated $1M each, with MoonPay contributing an undisclosed amount, reinforcing industry ties with the administration.
Crypto leaders anticipate collaborative regulatory frameworks under Trump, aiming for streamlined policies that benefit the rapidly growing sector.
Ripple’s $5 million donation in XRP to the Trump-Vance Inaugural Committee has sparked widespread attention in the cryptocurrency sector. This substantial contribution is allocated to fund celebrations for President-elect Donald Trump and Vice President-elect J.D. Vance during their January inauguration.
https://twitter.com/RippleXrpie/status/1870227445493969207
Crypto Companies Join In with Donations
Besides Ripple’s significant gesture, Coinbase and Kraken stepped forward with $1 million donations each to the committee. Moreover, MoonPay, another notable player in the crypto space, confirmed its donation, although the amount remains undisclosed.
According to reports from Fox Business, these donations underline a growing enthusiasm within the cryptocurrency industry for Trump’s administration. This optimism stems from his stated pro-crypto stance and promises of a relaxed regulatory framework, a sharp contrast to the more stringent measures seen under President Joe Biden’s leadership.
Advocating for Regulatory Simplification
Ripple’s $5 million contribution aligns with broader efforts within the crypto industry to engage with the incoming administration. Kara Calvert, Coinbase’s Vice President of U.S. Policy, emphasized the importance of initiating early dialogue with Trump’s team to advocate for simplified regulatory measures. Arjun Sethi, Kraken’s co-CEO, echoed this sentiment, expressing optimism about future collaborations aimed at fostering innovation.
Ripple CEO Brad Garlinghouse praised the administration’s proactive approach toward cryptocurrency. He highlighted the significance of appointing Paul Atkins as the prospective SEC Chairman and David Sacks as a leading advisor on crypto and AI, signaling strong support for emerging technologies.
Market Concerns Amid Policy Expectations
However, industry experts remain cautious about potential market fluctuations resulting from Trump’s economic policies. Arthur Hayes, founder of BitMEX, warned that the administration’s ability to implement sweeping changes might face limitations, especially before the 2026 midterm elections. This restricted time frame could create uncertainty within the crypto markets as investors adjust their strategies.
While the crypto industry remains hopeful for a supportive environment, the interplay between regulatory advancements and economic policies will significantly influence market trends. Nonetheless, Ripple’s prominent donation and the active engagement of other key players signal the sector’s readiness to align with government efforts.
