In an unprecedented move, Ripple has pledged $5 million worth of XRP to support the inauguration celebrations of President-elect Donald Trump and Vice President-elect J.D. Vance. The generous donation makes Ripple the largest contributor from the cryptocurrency industry to the inauguration fund, marking a historic moment for both the crypto world and U.S. politics.
The announcement comes amid growing participation by other crypto companies, with major industry players like Coinbase, Kraken, and Ondo Finance also stepping up to support the event. In total, the crypto industry has collectively pledged more than $8 million to the Trump-Vance Inaugural Committee.
According to reports from Fox Business, Ripple’s donation of $5 million in XRP represents the largest crypto donation ever made to a U.S. presidential inauguration. The funds will help support a series of high-profile events planned for the inauguration, including galas, parades, dinners, and exclusive receptions around the January 20 swearing-in ceremony.
This marks a shift in how the crypto industry is engaging with politics, signaling its growing influence and desire to foster relationships with policymakers. “Ripple makes record-breaking donation to Trump. This is the biggest crypto donation ever made. Crypto’s not just an alternative investment vehicle anymore, we’re seeing it reshape the world of politics in real-time,” said Mario Nawfal, a prominent entrepreneur and crypto advocate, on X (formerly Twitter).
Ripple is not alone in its contributions. Coinbase and Kraken, two of the largest cryptocurrency exchanges in the U.S., have each donated $1 million to the inaugural committee. Ondo Finance, a decentralized finance (DeFi) platform, has also pledged $1 million.
These donations come on the heels of Ondo Finance’s all-time high of $2.14 earlier this week, which was partly fueled by a significant $250,000 investment from World Liberty Financial, a crypto project backed by Trump. As part of the fundraising efforts, donors who contribute $1 million or raise $2 million are granted access to exclusive events during the inauguration weekend. These include a dinner with Trump and Vance, as well as a reception with incoming members of Trump’s Cabinet—events that offer valuable opportunities for networking and shaping policy discussions.
Crypto donations have played a significant role in the current political cycle. As reported earlier, three crypto-affiliated super PACs have collectively contributed an impressive $133 million to election campaigns, with Ripple, Coinbase, and Jump Crypto among the top donors. This shift highlights the increasing political influence of the cryptocurrency sector, which is looking to secure a more favorable environment under the new administration.
Brad Garlinghouse, CEO of Ripple, has been a vocal supporter of pro-crypto policies. Following the election, Garlinghouse donated an additional $25 million to Fairshake, a pro-crypto super PAC. The group has already raised $103 million for the 2026 midterm elections, demonstrating the crypto industry's commitment to backing candidates and causes that support its agenda.
Since Trump’s re-election, numerous crypto executives have sought direct engagement with the incoming administration, eager to foster crypto-friendly policies and financial appointments. Earlier this month, Crypto.com CEO Kris Marszalek met with Trump to discuss policy issues related to the digital currency space. Coinbase CEO Brian Armstrong also had a private meeting with the president-elect, reportedly focusing on key personnel appointments for the new administration.
These efforts appear to have already borne fruit. A key development has been the resignation of Gary Gensler, the head of the U.S. Securities and Exchange Commission (SEC), a figure often criticized by the crypto industry for his tough stance on digital assets. Gensler’s departure has been widely welcomed by crypto advocates, and his replacement, Paul Atkins, is seen as a more crypto-friendly figure. Additionally, Trump’s naming of David Sacks as the first-ever "AI and Crypto Czar" signals the administration’s intention to prioritize technological and financial innovation.
With these developments, the cryptocurrency industry is poised to play a significant role in shaping key decisions during Trump’s presidency. Crypto executives are likely to continue lobbying for favorable policies, particularly those that address regulatory clarity, taxation, and the broader legal framework for digital assets.
The inauguration donations reflect an effort to gain access to key decision-makers and ensure that the crypto sector’s voice is heard in Washington. As the relationship between the cryptocurrency world and the U.S. government continues to evolve, it remains to be seen how much influence these donations will ultimately have on the administration’s policies.
For now, however, the crypto industry’s involvement in the 2024 inauguration represents a new era of political engagement, with companies like Ripple, Coinbase, and Kraken at the forefront of a movement to integrate digital currencies into mainstream politics.
December 2024, Cryptoniteuae