Trump PAC raises around $7.5 million through crypto donations ahead of election
A political action committee (PAC) has donated a mixture of cryptocurrency to support Donald Trump’s presidential bid, with around $7.5 million having been raised.
The fundraising committee donated bitcoin, ether, and XRP, as well as tether and USDC to the presidential nominee’s campaign, according to a Federal Election Commission filing which was submitted on Tuesday (October 15).
The filing covers the period of July 1 through September 30 and at least 18 donors contributed more than $5.5 million in bitcoin. Another seven gave roughly $1.5 million in ether.
The group is reported as hailing from across more than 15 states, as well as the American territory of Puerto Rico.
Trump hones in on crypto audience amidst election campaign and support from PACThe contribution made so far is not unusual for the industry.
A recent report, published in August, says “crypto corporations are by far the dominant corporate political spenders in 2024…
“Nearly half (44%) of all corporate money contributed during this year’s elections ($274 million so far) came from crypto backers.”
The news comes just three weeks ahead of the US presidential election which will determine the future of the candidates. Throughout his run, Donald Trump has been very vocal about his support for the cryptocurrency industry and has made some bold statements.
Back in May, at a gathering at his Mar-A-Lago resort, Trump stated: “If you’re for crypto, you better vote for Trump.”
He has also promised to make the US the global crypto capital, at an event at the Economic Club of New York in September he shared his intentions: “...instead of attacking industries of the future, we’ll embrace them, including making America the world capital for crypto and Bitcoin.”
Vice President Kamala Harris has recently spoken out about crypto too, following a press release published on October 14. This states the presidential candidate would support a “regulatory framework for cryptocurrency and other digital assets…”
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