Trump secures over $4 million in crypto for campaign, predominantly in bitcoin

Trump Secures Over $4 Million in Crypto for Campaign, Predominantly in Bitcoin

Last Updated: July 26, 2024By

In a significant fundraising milestone, former President Donald Trump has amassed over $4 million in cryptocurrency contributions, with Bitcoin being the principal currency.

A detailed report by CNBC reveals that Trump’s campaign has garnered substantial financial support through digital currencies such as Bitcoin, Ethereum, Ripple (XRP), and the stablecoin USD Circle.

Winklevoss Twins Propel Bitcoin Donations A comprehensive Federal Election Commission document, spanning more than 1,000 pages, dissects the fundraising activities of the “Trump 47” joint committee from April 1 to June 30. The document discloses a total of $118 million raised, allocated among the Trump campaign, the Republican National Committee, and various affiliated entities.

Read more: Mark Cuban: Silicon Valley’s Support for Trump Hinges on Crypto Ambitions

Notably, at least 19 benefactors contributed in excess of $2.15 million in Bitcoin. These contributors hail from 12 different states and encompass diverse professions, including homemakers, military personnel, missionaries, and State Department security technicians.

Among the prominent donors, crypto magnates Tyler and Cameron Winklevoss donated 15.57 Bitcoin each, amounting to over $1 million per donation. Due to the contributions surpassing the $844,600 limit, a portion was refunded. Additionally, BitGo CEO Mike Belshe made a significant donation of $50,000 in Bitcoin.

Brian Hughes, an aide to the Trump campaign, affirmed that the majority of the $4 million raised in cryptocurrencies was in the form of Bitcoin.

“Crypto innovators and other technology sector leaders are under siege from Kamala Harris and the Democrats,” Hughes stated. “While the Biden-Harris Administration curtails innovation with increased regulation and taxation, President Trump is poised to champion American leadership in these and other emergent technologies,” Hughes added.

Kamala Harris Potentially More Crypto-Friendly: Mark Cuban In an email exchange with Politico, billionaire entrepreneur Mark Cuban suggested that Vice President Kamala Harris, endorsed by President Joe Biden, might adopt a more favorable stance towards cryptocurrency.

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About the Author: Eunji Lim

Eunji lim

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