Ripples $5M XRP Donation Powers Trumps Inaugural Fund Success
- Ripple donates $5M in XRP, largest crypto donation to Trumps fund.
- Trumps inaugural fund exceeds $200M with major tech and crypto donors.
- XRP price soars 500% after Ripple wins legal battle with the SEC.
The Trump-Vance inaugural committee has shattered fundraising records. The fund has surpassed $200 million in donations with support from Ripple and major tech figures.
Ripple Donates $5M in XRP to Trumps Inaugural Fund
Ripple has donated $5 million worth of its XRP token to support President Donald Trumps inaugural fund. This donation is the largest crypto-based contribution to the fund, highlighting Ripples unwavering support to the incoming administration.
Besides Ripple, other major crypto companies such as Coinbase and Kraken also donated $1 million each while MoonPay made an undisclosed contribution to the fund.This demonstrates the rising interest of digital currencies in the United States political space.These contributions signal the crypto industrys interest to build a favorable future regulatory environment under Trumps administration.
Trumps Inaugural Fund Raises Over $200 Million with Major Donors
The Trump-Vance inaugural committee has raised over $200 million which has set a new record or inaugural fundraising. The committee expects to collect a total of $225M by Inauguration Day from both corporate donors and individual contributors.
The inaugural committee has surpassed previous records of $107 million raised for Trumps 2017 inauguration and Bidens $62 million in 2021.
Apart from Ripple and other crypto companies, the fund has received substantial donations from tech executives like Jeff Bezos, Mark Zuckerberg and Dara Khosrowshahi. These large contributions indicate a rising association between big tech, cryptocurrency and the incoming Trump administration.
XRP Price Surges After Ripples Legal Win Over the SEC
XRP has been on the rise since Ripple secured legal victory against the United States Securities and Exchange Commission (SEC). The court ruling clarified that XRP is not a security which boosted the investor confidence in the token and sparked an increase in its price.
XRP is currently trading at approximately $2.30 and has increased by about 500% since the legal win. Analysts and investors are bullish about its future with possible targets of $2.92 and $4.50 as Ripple continues to strengthen its position in the crypto market.
Trump Picks Blockchain and Crypto Supporters for Key Roles
Former SEC commissioner Paul Atkins, a pro-Bitcoin advocate, will replace Gary Gensler as SEC Chair under President Trump. Atkins is expected to ease regulations on cryptocurrency, which has been a priority for the crypto industry. His appointment signals a more positive attitude in terms of digital assets and blockchain technology.
Trump has appointed David Sacks as the first crypto and AI czar, a role that is focused to mediate between regulators and the crypto industry. Sacks will chair the Presidential Council of Advisors for Science and Technology. Additionally, Trump nominated blockchain technology supporters, Scott Bessent for Treasury Secretary and Howard Lutnick for Commerce Secretary.
Read more: https://www.tronweekly.com/ripples-5m-donation-powers-inaugural-fund/
Text source: TronWeekly
