Donald Trump’s political action committee, Trump 47, has raised approximately $7.5 million in cryptocurrency donations from July to September 2024, marking a significant shift in his campaign strategy towards a pro-crypto stance. The donations came primarily in Bitcoin, Ethereum, XRP, and stablecoins like Tether and USDC, reflecting Trump’s newfound support for the cryptocurrency community.
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This influx of funds has positioned Trump as a prominent figure among crypto enthusiasts, with the industry contributing nearly half of the corporate donations for the upcoming election. Notable contributions included significant sums from executives in the crypto space, such as David Bailey of BTC Inc. and others from firms like Ripple and Coinbase.
This campaign funding surge is seen as a departure from Trump’s previous skepticism about digital currencies during his presidency, coinciding with a broader acceptance of cryptocurrency in political financing.
As the 2024 election approaches, the support from the crypto industry has dramatically increased, with contributions reportedly 13 times higher than those in the last presidential election cycle.
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