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Ripple Announces $5 Million XRP Donation for Trump-Vance Inauguration Celebrations
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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