Ripple has pledged $5 million in XRP tokens to the Trump-Vance inaugural committee, signaling the cryptocurrency industry’s growing involvement in political events.
Coinbase and Kraken joined the effort, each donating $1 million to the fund supporting the January 20 inauguration of President-elect Donald Trump and Vice President-elect JD Vance.
These contributions are part of a record $200 million already raised to fund the three-day celebrations. The committee is on track to surpass $225 million, significantly outpacing prior inaugurations.
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Crypto Industry Anticipates Regulatory Clarity Under Trump
Ripple’s donation reflects optimism about Trump’s administration, which has promised a lighter regulatory approach. Ripple CEO Brad Garlinghouse expressed confidence in moving past the regulatory hurdles posed by the outgoing administration.
Securities and Exchange Commission (SEC) Chair Gary Gensler, known for his strict stance on cryptocurrency, will step down on January 20. Trump has nominated Paul Atkins, a crypto advocate, as the next SEC chair. Atkins is expected to bring a more industry-friendly perspective to the role.
Additionally, David Sacks will take on the newly created position of crypto and AI czar, further solidifying Trump’s support for digital innovation. Coinbase praised the administration’s pro-crypto stance, calling it an opportunity to achieve long-overdue regulatory clarity.
Kraken’s co-CEO, Arjun Sethi, emphasized the administration’s understanding of disruptive technology as a key advantage.
Broader Corporate Support Underscores Confidence
The crypto sector’s contributions are part of widespread corporate backing for the Trump-Vance inaugural committee. Tech leaders like Jeff Bezos, Mark Zuckerberg, and Sam Altman have each donated $1 million. Robinhood added $2 million to the fund, while other financial and tech firms continue to show support.
These donations highlight a shift in tone from many corporate leaders who previously criticized Trump. With his return to office, they are signaling a willingness to collaborate with his administration. The inauguration celebrations will mark a pivotal moment for the intersection of government policy and private-sector innovation.
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