Ripple Donates $5M in XRP to Trump’s Inaugural Fund as Cryptocurrency Gains Traction in US Politics

The Trump-Vance inaugural committee has shattered fundraising records. The fund has surpassed $200 million in donations with support from Ripple and major tech figures.

Cryptocurrency played a significant role in President Donald Trump’s second inauguration, with Ripple making the largest crypto-based donation to the Trump-Vance inaugural committee.

The committee raised over $200 million, setting a new record for inaugural fundraising. The fund received support from major tech figures, including Jeff Bezos, Mark Zuckerberg and Dara Khosrowshahi.

Here's a summary of the crypto donations and other key highlights:

Ripple Donated $5 Million in XRP to Trump’s Inaugural Fund

Ripple showed its strong support to the incoming Trump administration by donating $5 million worth of XRP token to the inaugural fund. This contribution marked the largest crypto-based donation to the fund.

Other crypto companies also joined in to support the fund. Coinbase and Kraken each donated $1 million, while MoonPay made an undisclosed contribution.

These donations highlighted the growing interest in digital currencies within the United States political space. The crypto industry aimed to build a favorable future regulatory environment under Trump’s administration.

Trump’s Inaugural Fund Raises Over $200 Million with Major Donors

The Trump-Vance inaugural committee raised over $200 million, setting a new record for inaugural fundraising. The committee aimed to collect a total of $225M by Inauguration Day from both corporate donors and individual contributors.

The inaugural committee surpassed previous records of $107 million raised for Trump’s 2017 inauguration and Biden’s $62 million in 2021.

Apart from Ripple and other crypto companies, the fund received substantial donations from tech executives. Jeff Bezos, Mark Zuckerberg and Dara Khosrowshahi were among the major donors.

These large contributions indicated a rising association between big tech, cryptocurrency and the incoming Trump administration.

XRP Price Surged After Ripple’s Legal Win Over the SEC

XRP price experienced a surge following Ripple's legal victory against the United States Securities and Exchange Commission (SEC). The court ruling clarified that XRP is not a security, boosting investor confidence in the token and leading to an increase in its price.

At the time of writing, XRP was trading at approximately $2.30 and had risen by about 500% since the legal win. Analysts and investors remained bullish on XRP, with possible targets of $2.92 and $4.50 as Ripple continued to strengthen its position in the crypto market.

Trump Picks Blockchain and Crypto Supporters for Key Roles

Former SEC commissioner Paul Atkins, a pro-Bitcoin advocate, will replace Gary Gensler as SEC Chair under President Trump. Atkins is expected to ease regulations on cryptocurrency, which has been a priority for the crypto industry. His appointment signals a more positive attitude in terms of digital assets and blockchain technology.

Trump has appointed David Sacks as the first crypto and AI czar, a role that is focused to mediate between regulators and the crypto industry. Sacks will chair the Presidential Council of Advisors for Science and Technology.

Additionally, Trump nominated blockchain technology supporters, Scott Bessent for Treasury Secretary and Howard Lutnick for Commerce Secretary.