Cryptocurrency companies Ripple 
$2 and Kraken pledged a total of $6 million to support President-elect Donald Trump’s inauguration ceremony. Ripple contributed $5 million using its native XRP token, while Kraken donated $1 million to the committee.
Ripple and Trump
According to a report shared by FOX Business, Ripple and Kraken are among the crypto firms contributing to a record-breaking inaugural fund exceeding $200 million. These donations aim to support the three-day celebrations of Donald Trump and Vice President J.D. Vance’s inauguration on January 20, 2025.
Ripple’s $5 million donation reflects the company’s commitment to increasing its presence in the political arena. Similarly, the leading cryptocurrency exchange Kraken donated $1 million to support the inauguration events. This marks the first participation of several cryptocurrency companies in funding a presidential inauguration.
President-elect Donald Trump is taking swift action to support the cryptocurrency industry, fulfilling campaign promises. Trump appointed Paul Atkins, who is known for his pro-crypto stance, as the new Chair of the Securities and Exchange Commission (SEC).
Broad Support from Technology and Crypto Leaders
The Trump-Vance inauguration committee surpassed previous records with over $200 million in significant donations from tech giants like Jeff Bezos, Mark Zuckerberg, and Vlad Tenev. Each of these tech executives contributed $1 million or more to the fund.
This development comes alongside important dates announced by the U.S. appeals court regarding the Ripple case. The committee’s opening brief is due on March 6, 2025, followed by XRP’s response brief on April 7, 2025. The court also set deadlines for mediation surveys and appeal transcripts, marking significant steps in the long-running XRP case.
The support and appointments related to the cryptocurrency sector may play a vital role in integrating the industry into politics. The large donations from crypto companies and the presence of pro-crypto figures in governance highlight notable developments for the sector’s future.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
