Donald Trump’s Campaign Receives Cryptocurrency Donations
Donald Trump, the Republican presidential candidate, has received over $4 million in cryptocurrency donations for his campaign. This is according to a statement from the Federal Election Commission (FEC).
The contributions came in the form of Bitcoin, Ethereum, Ripple’s XRP token, the USDC stablecoin pegged to the US dollar, and various memecoins. The Trump 47 committee, which raised a total of over $118 million between April 1 and June 30, received almost 3.4% of its total contributions in cryptocurrency.
At least 19 donors contributed more than $2.15 million in Bitcoin to the committee, according to the documents. The Winklevoss brothers, crypto billionaires, made the largest contributions, each donating 15.57 Bitcoin (about $1 million at the time of the donation).
Trump is the first major US presidential candidate to accept donations in digital tokens. The campaign views this as support for innovation and American leadership in new technologies.
The Trump campaign accepts donations in various cryptocurrencies, including memecoins like Dogecoin and Shiba Inu. The campaign converts most of its cryptocurrency contributions to USDC and then liquidates them, but in some cases, they retain the stablecoins.
There have been various estimations of Donald Trump’s net worth over the years. Forbes estimates it at $5.7 billion, while Bloomberg estimates it at a significantly higher figure of $6.37 billion.
Trump has repeatedly stated that his real net worth is much higher than what the media reports. For example, during his presidency and in various interviews, he suggested that his net worth might be over $10 billion.
Cryptocurrency and Trump’s Campaign
Trump’s campaign has embraced cryptocurrency, raising millions of dollars in digital assets. This suggests that the campaign is trying to appeal to a younger, more tech-savvy voter base.
- Trump’s campaign has received donations in Bitcoin, Ethereum, XRP, USDC, and memecoins.
- The campaign converts most of its cryptocurrency donations to USDC and then liquidates them.
- Trump is the first major US presidential candidate to accept donations in digital tokens.
It remains to be seen how cryptocurrency will play a role in the upcoming election. However, Trump’s campaign’s embrace of digital assets suggests that cryptocurrency is becoming increasingly mainstream.
