Trump’s Campaign Have Raised $7.5M in Crypto Donations Since July

Presidential candidate Donald Trump’s influence in the crypto industry has grown more profound by the day. According to a Federal Election Commission filing, a political action committee (PAC) supporting the GOP candidate has raised about $7.5 million in cryptocurrencies. 

Bitcoin (BTC), Ether (ETH), XRP (XRP), and Circle’s USD Coin (USDC) were among the cryptocurrencies donated to the Trump 47 joint fundraising committee. According to the filing, the funds were raised cumulatively from July 1 to September 30.

Crypto’s Influence on US Election 

According to a report from Public Citizen, nearly half of all the corporate money flowing into the US election came from the crypto industry, with most of the contributions coming from Coinbase, Ripple, and VC firm Andreessen Horowitz. 

The filing shows that Trump 47 has received $5.5 million in BTC and $1.5 million in ETH from the crypto industry participants. Impressively, the crypto sector has raised 13x the amount it donated during the last US presidential election.

Major Donors 

The CEO of media group BTC, David Bailey, donated $498,000 in BTC to Trump’s campaign. Notably, Bailey is one of the people who influenced Trump from being a crypto skeptic to a believer. The CEO of digital asset security company BitGo donated approximately $100,000 in BTC, Craft Ventures’ Brian Murray donated $6,560 in BTC, Kresus Labs founder Trevor Traina committed $25,000 in ETH, and Chainstone Labs CEO Bruce Fenton contributed $60,000 in BTC.

Ripple legal chief Stuart Alderoty contributed $300,000 in XRP, among other industry participants.

Donors to Trump’s campaign came from 15 states, including a few battlegrounds, and the American territory of Puerto Rico. Their professions included Lockheed Martin software engineer, Duthie Power Services sales engineer, and producer for Esperanza Entertainment.

In a recent keynote, Trump revealed that he has raised $25 million from the crypto industry. However, he did not mention the crypto assets he received and the dollar donations.

In May, Trump became the first major presidential candidate to accept donations in crypto. Trump has pitched himself as the crypto president, among other pro-crypto statements.