Ripple has pledged a $5 million XRP donation to support the inauguration celebrations of President-elect Donald Trump and Vice President-elect J.D. Vance, set to take place in January. This donation marks one of the largest crypto contributions in history.

Coinbase and Kraken have each donated $1 million to the Trump-Vance Inaugural Committee, which is raising funds for a three-day series of events, including galas, parades, and dinners around the January 20 inauguration. Ondo Finance is also reported to contribute $1 million.

Privileges for Crypto Donors

Crypto firms contributing to the inauguration gain exclusive access to weekend events. Donors of $1 million or fundraisers of $2 million are invited to private dinners with Trump and Vance, receptions with cabinet members, and more. These events offer companies like Ripple and Ondo Finance an opportunity to build positive influence with the new administration.

New Administration and Crypto Policies

Trump’s re-election has accelerated the crypto industry’s efforts to engage directly with the administration. Earlier this month, Crypto.com CEO Kris Marszalek met with Trump to discuss crypto-friendly policies and financial appointments. Coinbase CEO Brian Armstrong also held a private meeting with Trump last month.

These efforts are already yielding results. SEC Chair Gary Gensler has resigned, replaced by crypto-friendly Paul Atkins. Additionally, Trump appointed David Sacks as the first “AI and Crypto Czar,” signaling a strong position for the crypto sector during his administration.

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Increasing Donations to “America PAC”

Founded at the end of May, the political action committee (PAC) known as “America PAC” is seeing a surge in donations. Previously, the Gemini exchange owners, the Winklevoss twins, donated $1 million each to Trump. Now, they have made additional contributions of $250,000 each.

Ripple’s $1 Million Donation

Ripple Labs has contributed $1 million to the Commonwealth Unity Fund, a new super political action committee. This PAC, established by attorney James Murphy, aims to unseat crypto-opponent Senator Elizabeth Warren and support crypto-friendly attorney John Deaton.

Elon Musk’s $45 Million Support

According to the Wall Street Journal, Elon Musk, a long-time Trump supporter, has informed his close associates that he will donate $45 million to support Trump’s journey to the White House through this group. In the U.S., companies and individuals must report political donations to the Federal Election Commission. Official records show no such donation from Musk yet.

In addition to the Winklevoss twins, Joe Lonsdale, the founder of Palantir, has also contributed to Trump’s organization, with a reported donation of $1 million.

So far, America PAC has raised only $8.8 million. However, there are other organizations actively raising funds for Trump as well.

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