Millions of dollars in cryptocurrencies flow towards Donald Trump's inauguration
Donald Trump, elected as the new President of the United States, will officially take office on January 20, in an inauguration ceremony that aims to be global thanks to the presence of numerous international leaders. The magnate intends for his return to the position to be a major event, and for this, he already has the support of major tech companies.
In fact, companies and magnates are showing their unwavering support for future President Donald Trump by making generous donations to the inaugural fund. These funds will be used to organize a memorable inauguration ceremony and the accompanying side events.
Now, Donald Trump has fulfilled some of his promises to support the crypto industry since his election on November 5, including the nomination of Paul Atkins as the next president of the Securities and Exchange Commission. He also appointed David Sacks as the first "czar" of cryptocurrencies and Artificial Intelligence, while presiding over the President's Council of Advisors on Science and Technology.
Particularly, Trump has formed a pro-cryptocurrency cabinet, including Scott Bessant, a fervent advocate of this technology, and Howard Lutnick, CEO of Cantor Fitzgerald, a recognized investor in Bitcoin.
The most funded inauguration in history: The power of cryptocurrencies
According to Fox Business, major cryptocurrencies are joining leading tech companies and other U.S. firms to donate millions of dollars to the inauguration.
For example, the crypto exchange Kraken has donated one million dollars to Trump Vance's Inaugural Committee. Also, Ripple will contribute $5 million in its native token XRP.
Additionally, according to Fox Business, MoonPay, a digital asset payment provider, indicated that it would also contribute to the fund but refused to reveal the exact amount.