Trump PAC Raises $7.5 Million in Cryptocurrency Donations

The “Trump 47” political action committee (PAC) has raised $7.5 million in cryptocurrency to support Donald Trump’s campaign for the U.S. presidential election. 

The PAC received donations in Bitcoin, Ether, XRP, and stablecoins like Tether and USD Coin between July and September, according to an October 15 filing with the Federal Election Commission.

Major contributions came from prominent figures in the crypto industry. Eighteen donors collectively gave over $5.5 million in Bitcoin, while seven donors contributed about $1.5 million in Ether. 

Notable donations included $498,000 from David Bailey, CEO of BTC media group; $300,000 in XRP from Ripple’s legal chief, Stuart Alderoty; and $1.1 million each from Tyler and Cameron Winklevoss, co-founders of the crypto exchange Gemini.

Chase Herro, co-founder of the Trump family’s crypto project World Liberty Financial, and BitGo CEO Mike Belshe, who donated nearly $100,000 in Bitcoin, also supported the PAC.

In addition, the super PAC “Right For America” has drawn attention from the crypto community, with a16z founders Marc Andreessen and Ben Horowitz donating $2.5 million each. Meanwhile, Ripple co-founder Chris Larsen donated $1 million in XRP to the pro-Harris PAC “Future Forward.”

The crypto industry has played a significant role in election funding, contributing around 13 times more this cycle compared to the last presidential election, with nearly half of all corporate money coming from this sector.