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Circle, the second largest stablecoin issuer in the crypto market, has contributed one million USDC to Trump’s presidential inaugural committee.
The donation follows those of cryptocurrency exchanges Coinbase and Kraken and blockchain payment firm Ripple.
Circle Becomes the Latest Industry Leader to Donate
The crypto industry has continually supported the incoming Trump administration, which has made several promises to make the US a leading market for crypto innovation. Circle, one of the largest US stablecoin issuers, further solidified that support by donating $1 million USDC to Trump’s inaugural fund.
“We are excited to be building a great American company, and the fact that the Committee took payment in USDC is an indicator of how far we have come, and the potential and power of digital dollars,” wrote Circle’s CEO Jeremy Allaire on X (formerly Twitter).
USDC’s market cap has gradually increased since Trump’s re-election. The ongoing bull market drove stablecoin demand across the market, and US companies benefited largely from the regulatory optimism.
Most notably, Tether’s setback in Europe due to MiCA has boosted USDC’s demand across the global market.
Meanwhile, tech executives and major donors have already contributed significantly to Trump’s inaugural fund, exceeding $170 million so far. The inaugural committee is responsible for organizing a series of events, including galas, parades, and dinners, to celebrate the November election victory.
The three-day celebration will take place around the January 20 swearing-in ceremony.
On December 21, Ripple pledged $5 million worth of XRP to support the inauguration celebrations. According to Fox Business reports, Coinbase and Kraken each contributed $1 million to the Trump-Vance Inaugural Committee.
Meanwhile, Ondo Finance reportedly donated $1 million to the inaugural fund. The company previously received a $250,000 investment from the Trump-backed crypto project World Liberty Financial in mid-December. Robinhood has also reportedly donated $2 million.
Donors Will Recieve Lucrative Perks During Trump’s Inauguration
In return for their donations, crypto leaders are likely to receive several perks. Donors contributing $1 million or raising $2 million for the inauguration will receive exclusive access to a series of private events. These include dinners with Trump and Vice President-elect J.D. Vance and receptions with other members of the incoming cabinet.
These exclusive benefits offer donors, such as crypto companies, opportunities to cultivate relationships with the new administration.
Cryptocurrencies significantly influenced the recent election cycle, with crypto-affiliated super PACs contributing over $133 million to various campaigns. Notable contributors included prominent cryptocurrency companies such as Ripple, Coinbase, and Jump Crypto.
Following the election, Ripple CEO Brad Garlinghouse further demonstrated his support for pro-crypto initiatives by donating $25 million to Fairshake, a pro-crypto super PAC, which has since raised over $103 million for the upcoming 2026 midterm elections.