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The pro-Trump political action committee (PAC), “Trump 47,” has raised $7.5 million in cryptocurrency contributions from July to September 2024, according to an October 15 Federal Election Commission filing. The contributions, made in Bitcoin (BTC), Ethereum (ETH), XRP, and stablecoins Tether (USDT), have come from high-profile figures in the crypto industry.
Some of the notable donors include:
- David Bailey, CEO of BTC media group, who contributed $498,000 in BTC.
- Stuart Alderoty, Ripple’s legal chief, donated $300,000 in XRP.
- Tyler and Cameron Winklevoss, co-founders of Gemini, each gave $1.1 million in BTC.
- Chase Herro, co-founder of the Trump family’s crypto project World Liberty Financial, also contributed.
Other prominent contributors include Mike Belshe, CEO of BitGo, Gary Cardone of Cardone Digital Ventures, and Bruce Fenton, CEO of Chainstone Labs. This surge in crypto donations highlights the growing involvement of the crypto sector in U.S. politics, with Marc Andreessen and Ben Horowitz, co-founders of the crypto venture firm a16z, donating $2.5 million each to the pro-Trump super PAC “Right For America”.
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Meanwhile, some crypto figures are supporting Trump’s rival, Kamala Harris, such as Ripple co-founder Chris Larsen, who donated $1 million in XRP to the pro-Harris PAC “Future Forward.”
The 2024 election cycle has seen a dramatic rise in crypto industry contributions, with Fairshake, one of the largest crypto PACs, raising over $200 million so far. This level of financial involvement underscores the influence of the crypto sector in shaping U.S. political outcomes.
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