Circle has donated $1 million to President-elect Donald Trump’s inaugural committee.
In a post on social media, Circle’s CEO Jeremy Allaire shared the news about their USDC contribution, underscoring that this acceptance by the committee underscores the increasing integration of digital currencies within traditional financial systems.
Allaire stated that the Committee receiving payment in USDC indicates the significant progress we’ve made, as well as the potential and might of digital dollars.
USDC, short for US Dollar Coin, falls under the category of digital assets called stablecoins. Unlike most cryptocurrencies that fluctuate in value, stablecoins are linked to conventional currencies such as the U.S. dollar, striving to preserve a steady worth.
The contribution made by Circle is aligned with a wider movement among cryptocurrency businesses contributing to the upcoming inauguration. Companies like Coinbase and Kraken have donated $1 million each, while Ripple, a blockchain company, has promised $5 million in XRP (XRP), another type of digital currency.
In the previous year, during Donald Trump’s presidential campaign, the wealthy Winklevoss twins separately contributed one million dollars’ worth of Bitcoin (BTC) to Trump.
Donald Trump and crypto
It’s clear that Trump has been expressing positive sentiments towards Bitcoin lately. His government is anticipated to leverage this interest to draw investments and stimulate the use of digital assets, which could be a key aspect of their overall economic plan.
Last month, Trump made remarks in a video message to the Blockchain Association, reinforcing his government’s dedication to fostering advancements in blockchain technology while simultaneously addressing potential national security issues.
In 2024, Trump openly endorsed cryptocurrencies, which was quite a change from his ambiguous stance previously held. Notably, he established a fundraising platform where contributions could be made using any cryptocurrency listed on the Coinbase exchange.
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2025-01-09 18:14