Circle Supports Trump's Inauguration Fund with $1M USDC Donation
Circle, the issuer of USD Coin (USDC), has made a landmark crypto donation to President-elect Donald Trump's inaugural fund.
CEO Jeremy Allaire confirmed the company's $1 million USDC contribution, calling it a pivotal moment for digital assets.
He emphasized that the Inauguration Committee's acceptance of stablecoins signals the growing legitimacy of crypto in mainstream finance.
@circle has contributed 1M USDC to President Trump's Inaugural Committee. We are excited to be building
a great American company, and the fact that the Committee took payment in USDC is an indicator of how far we have come, and the potential and power of digital dollars.
— Jeremy Allaire - jda.eth / jdallaire.sol (@jerallaire) January 9, 2025
The donation not only highlights USDC's expanding role in high-profile transactions but also aligns with Circle's mission to drive digital currency adoption in the US.
Moreover, the Trump Committee's openness to stablecoins underscores the evolving landscape of political fundraising and the increasing real-world utility of digital dollars.
Donald Trump Committee Wlecomes USDC
The Trump Committee's acceptance of USDC marks a significant step in the mainstream adoption of digital dollars.
Circle's $1 million crypto donation contributes to the over $170 million raised for the inauguration, highlighting the expanding role of stablecoins in high-profile financial transactions.
Allaire called the move a milestone for both Circle and USDC, emphasizing how far digital currencies have come in gaining acceptance.
Allaire commented:
“We are excited to be building a great American company, and the fact that the Committee took payment in USDC is an indicator of how far we have come and the potential and power of digital dollars.”
By integrating USDC into its fundraising efforts, Trump's campaign sets a new precedent for the use of digital assets in political finance.
Trump Committee Secured Over $170 Million in Donation
Tech and crypto giants are making major contributions to Trump's inaugural fund, with Google joining the wave by donating $1 million.
New: Google just donated $1 million to Trump's inauguration, falling in line behind Meta, Amazon & other tech giants Trump vilified. Will feature event on YouTube (#2 in world, behind Google). Google founder Sergey Brin once said he was “deeply offended” by Trump’s first win pic.twitter.com/gbgK1UcDi1
— Drew Harwell (@drewharwell) January 9, 2025
Google's global head of government affairs, Karan Bhatia, confirmed the contribution and announced plans to livestream the inauguration on YouTube.
Other major donors reportedly include Meta, OpenAI, Amazon, Apple, Coinbase, Kraken, and Ripple, with the fund surpassing $170 million and expected to exceed $225 million by Inauguration Day according to sources.
The three-day celebration, organised by the inaugural committee, will feature galas, parades, and dinners leading up to the 20 January swearing-in ceremony.
Crypto firms have played a particularly active role, with Ripple pledging $5 million in XRP, while Coinbase, Kraken, and Ondo Finance each contributed $1 million.
Donors to Donald Trump inaugural fund:
OpenAI CEO Sam Altman: $1M $AMZN: $1M$META: $1M$UBER & its CEO Dara Khosrowshahi: $1M $AAPL CEO Tim Cook: $1M
This is chump change to the technology oligarchs, but it sends a clear message on where they stand.
Bullish 🚀
— Fazir Ali (@KingFazir) January 6, 2025
Coinbase VP of US Policy Kara Calvert expressed:
“Coinbase committed to supporting President Trump's transition and ultimately his inauguration well ahead of the election. We’re eager to work with the most pro-crypto Administration in US history as we build the future of crypto in America.”
Robinhood reportedly donated $2 million, and Ondo Finance previously received a $250,000 investment from Trump-backed World Liberty Financial in mid-December.
These substantial contributions underscore the crypto industry's optimism about the incoming administration.
Donald Trump's top donors. Number 2: Timothy Mellon, scion of the Mellon fortune. Today many academics and artists apply for Mellon Foundation grants. Timothy Mellon gave Trump $150 million. Generations of wealth and privilege in the family have not tempered his views. pic.twitter.com/SphlPF4D2x
— Matthew Fraser 🇪🇺 (@frasermatthew) January 7, 2025
Kraken co-CEO Arjun Sethi praised Trump's understanding of "disruptive technology" and his embrace of the sector, reflecting a broader belief that the new administration could usher in more favorable policies for digital assets.
Donors to Receive Exclusive Benefits During Trump's Inauguration
High-level donors to Trump's inauguration, including crypto leaders, are set to receive exclusive perks.
Those contributing $1 million or raising $2 million will gain access to private events, including intimate dinners with Trump and Vice President-elect J.D. Vance, as well as receptions with key members of the incoming cabinet.
These gatherings provide a strategic opportunity for industry leaders to strengthen ties with the new administration.
With Trump set to take office on 20 January, crypto executives are increasingly optimistic about potential pro-crypto policies and regulatory reforms under his leadership.
As fundraising efforts gain momentum, which major players will step up next to join the donor list?
