The crypto world is thriving as Donald Trump prepares to take the oath of office as the 47th President of the United States on Jan 20.
After a turbulent few years under Joe Biden’s administration — defined by aggressive crackdowns, ambiguous regulations, and a bearish market — Trump’s return feels like a much-needed lifeline for crypto firms and investors.
Inaugurations in the U.S. are more than just ceremonial — they’re grand spectacles featuring lavish dinners, glittering balls, and high-stakes networking opportunities.
Beneath the glamour, however, lies a strategic game of influence, with corporations and wealthy individuals leveraging financial contributions to secure favor with the incoming administration.
Donations to inaugural committees are not only common but also serve as powerful tools for those aiming to build ties with key decision-makers.
Trump’s team has proven remarkably adept at this fundraising game. According to The New York Times, his camp has raised over $200 million for the inauguration and related political efforts, shattering the $107 million record set during his 2017 inauguration.
For those willing to contribute $1 million or more, the rewards include VIP perks such as exclusive dinners with Trump and Vice President-elect JD Vance — albeit with a roomful of other high-profile donors.
Big Tech has wasted no time making its move. Companies like Google, Meta, and Amazon have each contributed $1 million, signaling a calculated effort to repair relationships with the new administration.
Even former critics, such as hedge fund mogul Ken Griffin, have joined the ranks of million-dollar donors, vying for a seat at the table.
Yet, the most fascinating developments are unfolding not in Silicon Valley but in the crypto world. For the first time, crypto firms are stepping into the spotlight with unprecedented vigor, positioning themselves as key players in this high-stakes environment.
So, how much are these crypto companies betting on Trump, and what’s their game plan as this new era begins? Let’s delve into the numbers, the major players, and what this could mean for the future of crypto under Trump’s leadership.
Crypto firms open their wallets: strategic donations or survival tactics?
As Donald Trump prepares for his inauguration, crypto firms are making their presence felt with large contributions to his inaugural fund.
Ripple
Ripple
xrp3.22%XRP, in particular, has been at the forefront of crypto’s political spending spree. The firm’s $5 million donation to Trump’s inauguration fund marks a sharp pivot from its earlier overtures to Democratic candidate Kamala Harris.
Ripple’s CEO, Brad Garlinghouse, had once praised Harris for her “constructive” stance on digital assets, while Ripple co-founder Chris Larsen contributed a staggering $10 million to her campaign. But with Trump’s victory, Ripple’s strategic recalibration is glaringly evident.
This shift seems less about political loyalty and more about survival. Ripple’s long battle with the SEC, which began under the Biden administration, looms large in its calculus.
The infamous $1.3 billion lawsuit in 2020 accused Ripple of selling unregistered securities, leaving the company embroiled in legal uncertainty.
Trump’s presidency offers a chance to escape the regulatory quagmire, and Ripple’s $5 million gesture is as much an olive branch as it is an investment in a friendlier future.
The results are already visible. XRP’s price has skyrocketed from $0.50 in early November to $2.30 as of Jan. 10—a jaw-dropping 360% increase.
Meanwhile, Ripple’s market cap has swelled from $28 billion to $132 billion, reflecting how closely the company’s fortunes are tied to Washington’s changing rhythms.
Robinhood
Robinhood, too, has joined the list of crypto donors, contributing $2 million to Trump’s inaugural fund. The move is particularly notable given the firm’s troubled history with regulators.
In 2020, Robinhood paid a $65 million fine to settle SEC charges related to misleading practices.
More recently, in May 2024, its crypto arm received a Wells Notice from the SEC, signaling potential enforcement action. By donating to Trump’s inauguration, Robinhood seems to be betting on a political reset that could temper the SEC’s aggressive stance and provide breathing room for its expanding crypto offerings.
Coinbase
Coinbase, another heavyweight in the crypto world, has pledged $1 million to the inaugural fund. The company’s ongoing legal battle with the SEC over allegations of operating an unregistered securities exchange has been a defining chapter of its recent history.
However, Coinbase scored a small legal win just days ago when a federal judge granted an interlocutory appeal in its case.
With Trump’s administration promising a more industry-friendly regulatory environment, Coinbase’s donation is a clear attempt to solidify ties with an administration that could redefine the rules of the game.