Crypto Giants Rally Behind Trump with Major Donations, Seeking Regulatory Clarity

Obviously, if you're a crypto company in a fast-changing landscape, having the person in charge of legislation in your corner is nothing but a good thing.

Cryptocurrency companies are lining up to donate to President-elect Donald Trump's inauguration, with some getting exclusive perks in return.

Major exchanges and DeFi projects have announced donations ranging from $1 million to $5 million for the inauguration, set to kick off on January 20th with several celebratory events.

But what do donators get in return for giving up their hard-earned cash?

If you're a crypto company in a fast-changing landscape, having the person in charge of legislation in your corner is nothing but a good thing.

For example, Ripple's CEO Brad Garlinghouse has already had a one-on-one meeting with Trump, which resulted in the old-school coin going haywire.

Similarly, Coinbase's CEO Brian Armstrong managed to secure a similar interaction with the incumbent president.

And the common theme? Both have made sizable donations to Trump.

In early December, Garlinghouse announced a $5 million donation made in XRP to the inauguration festivities.

And before November officially revealed Trump as the winner, Armstrong and Coinbase donated $1 million for the inauguration.

The crypto exchange's Vice President for US Policy, Kara Calvert, explained the move:

"Coinbase, Inc. has donated $1 million to the Presidential Inaugural Committee, a non-profit organization that supports the swearing-in of the President of the United States. We believe that having a constructive dialogue with the incoming administration on behalf of the cryptoeconomy is critical."

Now, global trading platform Kraken and tokenised DeFi project Ondo Finance have joined the fray, each donating $1 million too.

Trump's inauguration is set to be an expensive time, with several high-profile events and celebratory dinners locked in.

Donators will receive an invite to a Sunday service alongside an inaugural ball - and they can even rub shoulders with Trump's cabinet.

It's going to be an opulent start to Trump's second reign as president, one that the crypto industry hopes will bring sweeping reform to the maturing Web3 world.