Cryptocurrency firms Ripple and Kraken have pledged a combined total of $6 million to support President-elect Donald Trump’s inauguration ceremony. Ripple donated $5 million using its native XRP token, while Kraken donated $1 million to the committee.
According to a report by FOX Business, Ripple and Kraken are among several cryptocurrency companies contributing to a record-breaking inaugural fund of over $200 million. These donations will support the three-day celebrations of Donald Trump and Vice President J.D. Vance’s inauguration on January 20, 2025.
Ripple’s $5 million donation reflects the company’s commitment to increasing its presence in the political arena. Similarly, leading cryptocurrency exchange Kraken’s $1 million donation aims to support the inauguration events. This marks the first time that several cryptocurrency companies have participated in funding a presidential inauguration.
President-elect Donald Trump is taking swift action to support the cryptocurrency industry, fulfilling campaign promises. He has appointed Paul Atkins, known for his pro-crypto stance, as the new Chair of the Securities and Exchange Commission (SEC).
The Trump-Vance inauguration committee has surpassed previous records with over $200 million in significant donations, including contributions of $1 million or more from tech giants like Jeff Bezos, Mark Zuckerberg, and Vlad Tenev. This broad support from technology and crypto leaders highlights notable developments for the future of the sector.
This news comes alongside important dates announced by the U.S. appeals court regarding the Ripple case. The committee’s opening brief is due on March 6, 2025, followed by XRP’s response brief on April 7, 2025. The court has also set deadlines for mediation surveys and appeal transcripts, marking significant steps in the long-running XRP case.
The support and appointments related to the cryptocurrency sector may play a vital role in integrating the industry into politics. The significant donations from crypto companies and the presence of pro-crypto figures in governance highlight notable developments for the industry’s future.
