The recent Fortune report emphasizes the week of inauguration of President Donald Trump as the most extravagant in history, driven by unprecedented 239 million donations from corporate supporters and management, including key cryptographic players such as Ripple Labs.
Pilgrim’s pride will exceed the donations to $ 5 million and then ripple
Among collaboratorsThe cryptocurrency sector has become a significant force, directing about $ 18 million to Trump’s support, showing the solid support of the industry for his presidency.
Running a packet of cryptographic donations is Ripple Labs. Apparently, the Blockchain payment company brought almost $ 4.9 million, which makes him the second largest donor, just behind Pilgrim’s pride, which donated $ 5 million.
Other noteworthy colleagues in the cryptographic field are Robinhood, an online broker, which generates significant revenues from Crypto Trading, which donated $ 2 million.
In addition, the main exchanges, such as CoinsKraken and Crypto.com, together with the paradigm of the Emister Circle and Venture Capital, each donated $ 1 million, which further strengthens the impact of the cryptographic industry in the political arena.
Trump -friendly cryptocurrency
The political climate turned violently under President Joe Biden, whose administration was characterized by a comprehensive one repression About the cryptographic industry.
SEC alleged that many cryptocurrencies qualify as securities, subjecting them to strict regulatory requirements. This intensive control prompted cryptocurrency directors to mobilize significant resources, spending over $ 130 million on influencing congress choices and told the candidates of Pro-Crypto.
In contrast, the cryptographic sector found an avid ally in Trump, who announced the “President of Pro-Crypto.” Noteworthy numbers in the industry, including Tyler and Cameron Winklevoss, co -founders of Gemini Exchange, each committed $ 1 million for the Trump’s re -election campaign.
Co -founder and chairman of Kraken, Jesse Powell, also brought $ 1 million, reflecting the joint efforts of the industry supporting the candidate perceived as beneficial to their interests.
After the victory of Trump’s election, the administration adopted a cryptocurrency genial approach. Trump appointed “AI and Crypto Czar”, initiated the establishment of strategic bitcoins and Digital Asset Reserveand effectively reduced the adjustment capabilities of key agencies, including SEC and the Futures Commission (CFTC) commission.
In particular, SEC has now abandoned lawsuits against several donors of the Trump inaugural fund, including known names such as Coinbase, Crypto.com, Uniswap, Yuga Labs, Kraken and Ripple.
At the time of writing, supported by Ripple XRP token, it trades $ 2,0835, key support for future cryptocurrency prices after a keen decline to $ 1.61 on April 7.
However, every month XRP fell by almost 13%, because Trump’s tariff policy brought a significant number of risk assets and wider cryptographic prices.
A distinguished painting with Dall-E, chart from tradingview.com
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