Originally published on: October 17, 2024
A political action committee (PAC) aligned with former U.S. President Donald Trump has made headlines by raising an impressive $7.5 million in cryptocurrency. The Trump 47 PAC collected significant amounts of Bitcoin, Ether, XRP, and stablecoins like Tether and USD Coin between July and September, as reported in a recent filing with the Federal Election Commission.
Numerous heavy-hitters from the crypto industry have contributed to this cause, with key figures such as BTC media group CEO David Bailey, Ripple legal chief Stuart Alderoty, and Gemini exchange co-founders Tyler and Cameron Winklevoss stepping up with substantial donations. Other notable donors include individuals like Chase Herro, a co-founder of World Liberty Financial, and Mike Belshe, CEO of crypto custodian BitGo.
Interestingly, other PACs are also seeing support from the crypto community, with a16z founders Marc Andreessen and Ben Horowitz donating $2.5 million each to the pro-Trump super PAC Right For America. On the flip side, some crypto leaders have thrown their weight behind Trump’s opponent Kamala Harris, including Ripple co-founder Chris Larsen, who has backed the PAC Future Forward.
As the crypto industry continues to play a significant role in the political landscape, it’s clear that these financial contributions are making a substantial impact. Stay tuned for more updates on this evolving relationship between crypto and politics.
