Crypto companies fund Trump’s inauguration in millions: Strategic investment or regulatory favoritism?
The post Crypto companies fund Trump’s inauguration in millions: Strategic investment or regulatory favoritism? appeared on BitcoinEthereumNews.com.
Cryptocurrency companies are making significant financial contributions to Trump’s inauguration, with major figures like Ripple, Kraken, and Coinbase leading the way. However, there are questions about the nature of these multi-million-dollar donations, whether they are strategic moves or borderline bribery. Cryptocurrency companies are donating a lot of money to President-elect Donald Trump’s upcoming inauguration, with big names like Kraken, Coinbase, and Ripple pitching in. The crypto industry is hoping to build a good relationship with the incoming administration. But the big question is: are these donations a smart investment in the future of digital currencies, or are these companies just trying to gain favor to secure better regulations for themselves? Massive donations from crypto giants Ripple is winning the race with a donation of $5 million in XRP tokens to President Trump’s inauguration committee. Ripple’s CEO, Brad Garlinghouse, said, “We believe in supporting initiatives that help drive innovation and technology forward.” Kraken, another major crypto exchange, also committed to donate $1 million. Ondo Finance follows the path by committing $1 million after a Trump-linked DeFi project invested $250,000 in the ONDO token. Founder Tim Drapper said, “We’re happy to support an administration that understands the value of digital assets.” Coinbase and MoonPay also joined in, with Coinbase donating $1 million even before the election results. Brian Armstrong, CEO of Coinbase, said, “This donation shows our commitment to building relationships with policymakers who understand the future of finance.” Crypto companies started donating as far back as during the campaign. Elon Musk, who supports cryptocurrencies like Dogecoin, played a major role in backing Trump. His support helped bring attention to digital currencies during the campaign. Ripple’s donations during the campaign were a strategic move to make sure the new administration understood the crypto industry. These donations were part of a larger effort…
