- Donald Trump’s crypto branding is paying off.
- Political Action Committees supporting the former president are getting millions in donations.
- More industry bettors are taking a chance on Trump.
Over the past month, Donald Trump and his self-proclaimed “crypto president” title have been at the center of industry chatter. From unveiling a new crypto venture to splurging Bitcoin on burgers, Trump has actively engaged the industry, even promising to provide the long-coveted friendly regulatory environment for the US crypto scene.
While some have raised skepticism over his sincerity, Trump’s bold vision has positioned him as a favorite among other industry watchers, now translating into donations to support his cause.
Trump-Linked Crypto Donations Hit $7.5 Million
A recent filing has revealed that a Political Action Committee backing Donald Trump’s campaign, the Trump 47 Committee, has netted $7.5 million in donations.
Sponsored
The contributions come in a diverse mix of crypto assets, ranging from Bitcoin (BTC) and Ethereum (ETH) to stablecoins, and more.
Trump 47 committee’s donors include several notable industry figures. Among them is Ripple CLO Stuart Alderoty, who donated around $300,000 in XRP. Gemini co-founders Tyler and Cameron Winklevoss have also given millions to back the former president, as well as BTC media group CEO David Bailey with about $498,000 in bitcoin.
BitGo CEO Mike Belshe also reportedly donated approximately $100,000 in BTC, among others. Meanwhile, the former president maintains a strong presence on prediction platforms.
Trump’s Odds Skyrocket on Polymarket
The upcoming U.S. presidential elections have become quite a hot topic in the crypto industry, with predictions flying over who will emerge victorious in the race for the White House.
While Donald Trump and his main rival, Kamala Harris, have faced off on various occasions, recent trends show Trump taking the lead on the decentralized prediction platform Polymarket. He boasts an impressive 59.9% chance of winning, while Harris lingers around 40% at the time of writing.
However, Trump’s chances do not shine as brightly on other platforms, raising concerns about potential exaggeration and bias on Polymarket.
On the Flipside
- Trump’s latest crypto venture has encountered some hiccups.
- Tesla CEO Elon Musk recently gave around $75 million to support Trump’s campaign.
- Other crypto industry figures have also donated to Kamala Harris.
Why This Matters
The surge in crypto donations for Donald Trump underscores the increasing support he is garnering within the industry.
Read more about Trump’s new crypto venture and more of its challenges in this article:
Donald Trump’s WLFI Token Dumps 20% On Day One: Here’s Why
Lending protocol Radiant Capital suffers second major attack in one year; find out more here:
Radiant Capital Suffers $50M Loss in Second Major Hack
