The “Trump 47” political action committee (PAC) has successfully raised $7.5 million in cryptocurrency to bolster Donald Trump’s bid for the presidency in the upcoming U.S. election.
Between July and September, the PAC received a diverse array of donations, including Bitcoin, Ether, XRP, and stablecoins such as Tether and USD Coin, as reported in a filing submitted to the Federal Election Commission on October 15.
A significant portion of the funding came from notable figures within the cryptocurrency sector. Eighteen contributors collectively donated over $5.5 million in Bitcoin, while seven individuals added around $1.5 million in Ether.
Among the most prominent donations were $498,000 from David Bailey, the CEO of BTC Media Group, and $300,000 in XRP from Stuart Alderoty, the legal chief of Ripple. Additionally, the Winklevoss twins, Tyler and Cameron, co-founders of the crypto exchange Gemini, each contributed $1.1 million.
Other supporters included Chase Herro, co-founder of the Trump family’s crypto initiative World Liberty Financial, and Mike Belshe, CEO of BitGo, who donated nearly $100,000 in Bitcoin.
Moreover, the super PAC “Right For America” has attracted interest from the crypto community, with a16z founders Marc Andreessen and Ben Horowitz each contributing $2.5 million. Additionally, Chris Larsen, co-founder of Ripple, donated $1 million in XRP to the pro-Harris PAC “Future Forward.”
The cryptocurrency sector is increasingly influencing election financing, contributing approximately 13 times more in this election cycle compared to the previous presidential election, accounting for nearly half of all corporate donations.
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