Circle, the second-largest stablecoin issuer in the cryptocurrency market, has contributed $1 million worth of USDC to Trump’s presidential inauguration committee.
The donation follows those from cryptocurrency exchanges Coinbase and Kraken and blockchain payments company Ripple.
Circle becomes latest industry leader to donate to Trump inauguration
The cryptocurrency industry has been continuously supportive of the Trump administration, which has made several promises to make the United States (U.S.) a leading market for cryptocurrency innovation. Circle, one of the world’s largest stablecoin issuers, has further solidified this support by donating $1 million in USDC to Trump’s inaugural fund.
We are excited to be building a great American company, and the fact that the Committee has accepted payments in USDC is an indicator of how far we have come and the potential and power of digital dollars, Circle CEO Jeremy Allaire wrote in X.
USDC’s market cap has been steadily rising since Trump’s re-election. The sector’s surge has boosted demand for stablecoins across the market, with U.S. companies benefiting largely from regulatory optimism.
Most notably, Tether's setback in Europe due to MiCA has boosted demand for USDC in the global market.
USDC market cap over the last month. Source: Trading View
Trump's fund already has more than $170 million in donations
Meanwhile, tech executives and big donors have already contributed significantly to Trump’s inaugural fund, topping $170 million so far. The inaugural committee is responsible for organizing a series of events, including galas, parades and dinners, to celebrate his November election victory.
The three-day celebration will take place around the inauguration ceremony on January 20.
On December 21, Ripple announced the donation of $5 million worth of XRP to support the inauguration celebrations. According to reports from Fox Business, Coinbase and Kraken each contributed $1 million to the Trump-Vance Inaugural Committee.
Meanwhile, Ondo Finance has reportedly donated $1 million to the inaugural fund. The company previously received a $250,000 investment from Trump-backed crypto project World Liberty Financial in mid-December. Robinhood has also reportedly donated $2 million.
Donors to receive lucrative perks during Trump's inauguration
In exchange for their donations, crypto leaders will likely receive several perks. Donors who contribute $1 million or raise $2 million for the inauguration will receive exclusive access to a series of private events. These include dinners with Trump and Vice President-elect JD Vance, as well as receptions with other members of the incoming cabinet.
These exclusive benefits provide donors, such as cryptocurrency companies, with opportunities to primarily cultivate relationships with the new administration.
Cryptocurrencies have significantly influenced the recent election cycle, with cryptocurrency-affiliated super PACs contributing over $133 million to various campaigns. Notable contributors have included prominent cryptocurrency companies such as Ripple, Coinbase, and Jump Crypto.
Following the election, Ripple CEO Brad Garlinghouse further demonstrated his support for pro-crypto initiatives by donating $25 million to Fairshake, a pro-crypto super PAC that has already raised over $103 million for the upcoming 2026 midterm elections.
The article Circle Donates $1 Million in USDC to Trump Inaugural Committee appeared first on BeInCrypto.
