According to TechFlow, on October 16, CNBC reported that according to documents released by the U.S. Federal Election Commission (FEC), the Trump 47 Committee, a political action committee supporting former President Donald Trump's campaign, has raised approximately $7.5 million in cryptocurrency donations since early June 2024.
FEC documents show that the report covers donations from July 1 to September 30, 2024, including cumulative contributions. Donors donated Bitcoin, Ethereum, XRP, and USDC to the committee. Specifically, at least 18 donors donated more than $5.5 million in the form of Bitcoin, and another 7 donated about $1.5 million in Ethereum.
Donors were widely distributed, coming from more than 15 states, including several swing states, and the U.S. territory of Puerto Rico. David Bailey, CEO of media group BTC Inc., donated more than $498,000 in Bitcoin. Bailey is considered one of the key figures in assisting Trump's shift in his stance on cryptocurrency.
Among the donations from crypto industry figures, Ripple Chief Legal Officer Stuart Alderoty donated $300,000 in XRP. However, Ripple's billionaire co-founder Chris Larsen donated $1 million worth of XRP to Future Forward, a super PAC supporting Vice President Kamala Harris' campaign.
