Former President Donald Trump has garnered more than $4 million from a range of digital tokens, demonstrating substantial backing from the cryptocurrency community. This funding surge precedes his keynote address at a major bitcoin conference in Tennessee this weekend.
A campaign aide revealed to CNBC that contributions have come in the form of bitcoin, ether, Ripple’s XRP token, the U.S. dollar-pegged stablecoin USDC, and various memecoins. The contributions are documented in a recent Federal Election Commission filing, which details the “Trump 47” joint fundraising committee’s activities from April 1 to June 30. During this period, the committee raised over $118 million, benefiting the Trump campaign, the Republican National Committee, and other affiliates.
The filing shows that at least 19 donors contributed more than $2.15 million in bitcoin alone. These contributors, coming from 12 states including key battlegrounds, hold diverse professions ranging from homemakers to military officers.
Among the notable contributors are crypto billionaire twins Tyler and Cameron Winklevoss, each donating 15.57 bitcoin, or just over $1 million at the time of their donation. Due to limits on contributions, some of their donations were partially refunded. Mike Belshe, CEO of BitGo, also donated $50,000 in bitcoin.
In a significant shift from his earlier stance, Trump has positioned himself as a pro-crypto candidate. He launched a new non-fungible token collection on the Solana blockchain in April and has made bullish comments on crypto, gaining support from influential tech and crypto investors like Marc Andreessen and Ben Horowitz.
Trump’s address at The Bitcoin Conference in Nashville will be followed by a high-profile fundraiser, with top-tier tickets reaching $844,600 per person. Brian Hughes, a Trump campaign aide, stated that the majority of the over $4 million in crypto contributions arrived in bitcoin. Hughes criticized the Biden-Harris administration for stifling innovation with regulation and higher taxes, positioning Trump as a supporter of American leadership in emerging technologies.
Trump has become the first major presidential candidate to accept donations in various cryptocurrencies, including dogecoin, shiba inu coin, XRP, USDC, and ether. High-profile contributors include Kraken founder Jesse Powell and Ripple’s Chief Legal Officer Stuart Alderoty.
The Trump campaign has been converting most crypto donations to USDC and liquidating them, though it has held onto some USDC donations. Trump has pledged to protect the rights of those who self-custody their coins and has vowed to keep vocal crypto critic Senator Elizabeth Warren away from bitcoin holders.
In a move favoring the crypto sector, Trump named Ohio Senator JD Vance as his running mate. Vance, an advocate for looser crypto regulations, personally holds bitcoin. Trump’s stance contrasts with the Biden administration, which has intensified crypto regulations in recent years.
