Gemini Founders Donate $2M in Bitcoin to Trump for Crypto Defense Joining Coinbase,
Trump’s recent conviction on 34 felony counts could potentially complicate his bid to run for president again, despite currently leading in the polls as the prospective Republican presidential candidate. His sentencing hearing is scheduled in New York for July 11, just days before he is expected to receive the official party nomination.
Amid his legal challenges over the past two months, Trump has remained active in engaging with the cryptocurrency community. He hosted a dinner for individuals who purchased a non-fungible token (NFT) featuring his mugshot from a criminal case in Georgia.
His campaign has also announced that it will accept donations in cryptocurrency. Furthermore, after meetings with executives from major mining firms, Trump declared his intention to ensure all Bitcoin mining occurs within the United States. Meanwhile, President Biden’s campaign is reportedly considering accepting cryptocurrency donations for his reelection bid.
Crypto Industry Donations to Political Committees Hit $94M
Since 2023, donors from the cryptocurrency industry have contributed over $94 million to federal political committees, surpassing the $83 million donated in the previous election cycle and showing strong support for their allies in Congress.
Among the country’s largest political donors are key figures in the crypto industry, reports OpenSecrets . Leading the pack is Jeffrey Yass of Susquehanna International Group, a libertarian who supports Republicans and has interests ranging from ByteDance to Bitcoin, donating $70 million with more expected before Election Day.
Fairshake and its two affiliated super PACs, Defend American Jobs and Protect Progress, have raised $85 million, adjusting earlier figures to account for the double-counting of in-kind cryptocurrency donations.
Notable donors include venture capitalists Marc Andreessen and Ben Horowitz, contributing $9 million each to Fairshake; billionaire twins Cameron and Tyler Winklevoss, who each donated $2.5 million; and Coinbase Global Inc. CEO Brian Armstrong, who gave $1 million. Additionally, his company contributed $20.5 million, while Ripple Labs donated $20 million.
Read More:Gemini Founders Donate $2M in Bitcoin to Trump for Crypto Defense Joining Coinbase,
