Cryptocurrency companies Ripple and Kraken have pledged a total of $6 million to support President-elect Donald Trump’s inauguration ceremony. Ripple contributed $5 million using its native XRP token, while Kraken donated $1 million to the committee.
According to a report from FOX Business, Ripple and Kraken are among the cryptocurrency firms contributing to a record-breaking inaugural fund exceeding $200 million. These donations aim to support the three-day celebrations of Donald Trump and Vice President J.D. Vance’s inauguration on January 20, 2025.
Ripple’s $5 million donation reflects the company’s commitment to increasing its presence in the political arena. Similarly, leading cryptocurrency exchange Kraken donated $1 million to support the inauguration events. This marks the first participation of several cryptocurrency companies in funding a presidential inauguration.
President-elect Donald Trump is taking swift action to support the cryptocurrency industry, fulfilling campaign promises. Trump appointed Paul Atkins, known for his pro-crypto stance, as the new Chair of the Securities and Exchange Commission (SEC).
The Trump-Vance inauguration committee has received broad support from technology and crypto leaders, surpassing previous records with over $200 million in significant donations. Tech giants like Jeff Bezos, Mark Zuckerberg, and Vlad Tenev each contributed $1 million or more to the fund.
This development coincides with important dates announced by the U.S. appeals court regarding the Ripple case. The committee’s opening brief is due on March 6, 2025, followed by XRP’s response brief on April 7, 2025. The court has also set deadlines for mediation surveys and appeal transcripts, marking significant steps in the long-running XRP case.
The support and appointments related to the cryptocurrency sector may play a vital role in integrating the industry into politics. The large donations from crypto companies and the presence of pro-crypto figures in governance highlight notable developments for the sector’s future.