Key Points
- According to a Federal Election Commission filing, Trump PAC raised $7.5 million in crypto since June.
- The former US President adopted a pro-crypto campaign in 2024.
According to the latest reports, a political action committee supporting the former US President, Donald Trump, has raised $7.5 million in crypto since June.
Trump 47 Joint Fundraising Committee Donations Details
According to data from CNBC, the contributors to the Trump 47 joint fundraising committee donated Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Tether (USDT), and Circle’s USDC.
The publication cited data from the Federal Election Commission filing submitted yesterday, October 15.
According to PAC, the latest filing covers donations from July 1 until September 30, but the numbers also included cumulative contributions.
Trump Funding From the Crypto Community
The US 2024 elections are programmed for November 5, and Trump has been showing increased support for the crypto community throughout the year.
Back in May, Trump became the first major presidential candidate to accept crypto donations, and he’s been repeatedly highlighting that the US government should not sell the country’s BTC holdings, also promising to make the US the crypto capital of the world.
Yesterday, the Trump family-backed World Liberty Financial token sale went live, and 220 million WLFI tokens were sold in the first 20 minutes of the launch.
Regarding Trump’s campaign donations, at least 18 donors gave over $5.5 million in BTC to Trump 47, and 7 donors gave $1.5 million in ETH, CNBC notes.
Here are some important donors:
- David Bailey, CEO of media group BTC Inc, offered almost $500 million in BTC.
- Mike Bleshe, CEO of BitGo digital asset security company contributed almost $100,000 in BTC.
- Brian Murray, partner at Craft Ventures, offered $6,560 in BTC.
- Kresus Labs founder Trevor Traina gave over $25,000 in ETH.
- Chainstone Labs CEO, Bruce Fenton, donated $60,000 in BTC.
- Gary Cardone of Cardone Digital Ventures donated $840,000 in BTC.
- Ripple’s legal chief Stuart Alderoty contributed $300,000 in XRP.
Contributors came from over 15 states, including a few battlegrounds, and the American territory of Puerto Rico.
Crypto Sector Corporation Contributions for 2024 US Elections
CNBC notes that almost half of the money flowing into the election comes from the crypto industry, a new report from the nonprofit group Public Citizen shows.
The report shows the following donations in 2024:
- Coinbase donated almost $50.5 million including $500,000 to Senate Leadership Fund (Republican PAC) and $500,000 to Senate Majority PAC (Democratic PAC).
- Ripple donated $49 million, including $1 million to John Deaton super PAC.
- Jump Crypto, a division of the Jump Trading Group, and leader in Web 3, donated $15 million to Fairshake PAC.
- Andreessen Horowitz Silicon Valley’s firm donated $1.75 million to the Democratic PAC and Republican PAC as well.
- Payward Inc., doing business as Kraken, donated $1 million to Fairshake PAC.
- Circle Internet Financial donated $1 million to Fairshake PAC.
- Paradigm Operations Lp, a crypto-focused investment firm, donated $1 million to the conservative crypto PAC, the Republican PAC, and the Democratic PAC.
Trump’s Winning Odds Keep Rising
The US elections are programmed for November 5, and Elon Musk recently said that these would be the most important elections in people’s lives.
So far, according to the latest reports, the odds are rising in favor of Trump.
Today, data from Polymarket shows Trump leading Kamala Harris by 58.9% to 40.9%, while Kalshi shows a 57% chance for a Trump win, compared to 43% odds for Harris.
