With less than two weeks to go before the official inauguration of US President-elect Donald Trump, big players in the crypto industry are taking action. Not only has he continued to spend a lot of money to support the new government, but he has also worked hard to get closer to Trump, hoping to have a seat on the crypto advisory committee that will be established in the future.
The members of the advisory group are expected to be major leaders in the encryption industry
According to Bloomberg citing insiders, Trump plans to establish a cryptocurrency advisory committee with about 24 members. The members are expected to come from major leaders in the encryption industry, including Brian Armstrong, CEO of the well-known exchange Coinbase, Ripple CEO Brad Garlinghouse. However, the list of advisors has not yet been finalized. Trump, his core team, and future AI encryption czar David Sacks are still carefully evaluating.
Coinbase CEO Brian Armstrong and crypto industry leaders are visiting one after another, making Mar-a-Lago a must-visit place
Since Trump won the election last year, his private club Mar-a-Lago has become a must-visit destination for top executives in the crypto industry. Kris Marszalek, CEO of the exchange and cryptographic charge card company Crypto.com, met with Trump at Mar-a-Lago in December to discuss industrial policy and personnel arrangements for the advisory board.
Trump meets with Crypto.com CEO
Ripple CEO Brad Garlinghouse and General Counsel Stu Alderoty also attended Trump’s private dinner this week. In addition to chatting about industry prospects, the two parties also mentioned the legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC).
Ripple CEO Garlinghouse and Chief Legal Officer Alderoty also met with Trump. Circle donated millions of magnesium USDC, and industry executives also spent heavily to support Trump.
Jeremy Allaire, CEO of stablecoin issuer Circle, announced on Twitter on 1/10 that Circle has donated nearly $1 million in stablecoin (USDC) to Trump’s inaugural committee. This move is obviously closer to the new government and also It shows the encryption industry’s high expectations for future policies.
Allaire announced on Twitter that it has donated $1 million USDC
Industry executives not only paid a visit to Trump, but also expressed their stance with practical actions. Well-known exchanges Coinbase, exchange Kraken, and tokenized product protocol provider Ondo have each recently donated $1 million in political donations to Trump's inaugural committee. Ripple announced as early as December last year that it would donate XRP tokens worth US$5 million, becoming one of the largest financial aid companies.
The Crypto Dance Party will be held on January 17th, and the candidates for the advisory board are about to be announced.
In order to welcome the new Trump administration, the industry will hold a "crypto inaugural ball" at the White House on January 17, with ticket prices as high as $2,500. The event was co-organized by the well-known Bitcoin magazine BTC Inc. and the crypto initiative "Stand with Crypto" supported by Coinbase. Sponsors also include Kraken, fox wallet MetaMask, crypto custody company Anchorage Digital and other crypto industry players.
In fact, Trump’s support for the encryption industry has long been known. He already expressed his support for the encryption industry at a Bitcoin conference in Tennessee last July. The organizer of this event, David Bailey, CEO of the well-known Bitcoin magazine Bitcoin Magazine, is said to have also been included on the advisory board's list. However, Bailey has not responded yet.
Trump and David Bailey pictured during the campaign
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This article: Crypto industry players rush into the White House! On the eve of Trump’s inauguration, Circle, Coinbase and Ripple donated millions of magnesium to join the advisory group. This first appeared on Chain News ABMedia.
