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Donald Trump, elected the new President of the United States, will officially take office on January 20, in an inauguration ceremony that aims to be global thanks to the presence of numerous international leaders. The tycoon intends for his return to office to be a great event and for this he already has the support of large technology companies.
Indeed, companies and tycoons are demonstrating their unconditional support for future President Donald Trump by making generous donations to the inaugural fund. These funds will be used to organize a memorable inauguration ceremony and the collateral events that will accompany it.
Now, Donald Trump has delivered on some of his promises to support the crypto industry since his election on November 5, including nominating Paul Atkins as the next chairman of the Securities and Exchange Commission. Likewise, he named David Sacks as the first “czar” of cryptocurrencies and Artificial Intelligence, while chairing the President’s Council of Advisors for Science and Technology.
In particular, Trump has put together a pro-Cryptocurrency cabinet, including Scott Bessant, a fervent defender of this technology, and Howard Lutnick, CEO of Cantor Fitzgerald, a renowned Bitcoin investor.
The Most Funded Takeover in History: The Power of Cryptocurrencies
According to Fox Business, major cryptocurrencies are joining major tech companies and other American companies to donate millions of dollars to the takeover.
For example, crypto exchange Kraken has donated $1 million to Trump Vance’s Inauguration Committee. Also, Ripple will contribute $5 million in its native token XRP.
Additionally, according to Fox Business, MoonPay, a digital asset payments provider, indicated it would also contribute to the fund, but declined to disclose the exact amount.
In this regard, Kraken CEO Arjun Sethi said: “Innovation in the cryptocurrency space is emerging as something as big, if not bigger, than the software and Internet revolutions. For the first time, we have a president who truly understands the potential of disruptive technology and embraces the cryptocurrency sector. “We are excited to continue working with President-elect Trump and his administration to drive long-awaited regulatory clarity and unlock this next wave of innovation.”
Indeed, contributions from cryptocurrency elites, many of which are going for the first time to a presidential inauguration fund, reflect the industry’s enthusiasm for Donald Trump, who has promised lighter regulation than his predecessor, Joe Biden.
Unprecedented donation: Crypto and Tech join forces for millions
Aside from digital currencies, Big Tech and its executives also contributed to Trump’s inauguration fund. Among them, Amazon founder Jeff Bezos, Meta’s Mark Zuckerberg, Uber agent Dara Khosrowshahi, and OpenAI’s Sam Altman. Each contributed a million dollars to the fund. Additionally, Vlad Tenev, CEO of Robinhood, said the company plans to contribute $2 million to the inaugural committee.
“President Trump will lead our country into the age of AI, and I am excited to support his efforts to ensure America remains ahead of the curve.”
Sam Altman
By the way, according to the New York Times, Trump is offering additional benefits to donors who contribute at least $1 million to his inaugural fund. Among them, several tickets for activities planned around the event, such as dinners with Trump and his cabinet nominees.
I close with this phrase from Donald Trump: “The United States must be a leader in the crypto industry.”
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