A political action committee supporting Donald Trump’s presidential campaign raised approximately $7.5 million in crypto donations from July to September 2024. These donations are Bitcoin (BTC) 
$67,169Ethereum (ETH) 
$2,614was made with major cryptocurrencies such as XRP and the US dollar-backed stablecoin USDC.
Cryptocurrency Support Strengthens the Campaign
The Trump 47 joint fundraising committee reported a significant influx of funds in digital currencies from the beginning of July to the end of September. According to the latest filing with the Federal Election Commission, these donations came in the form of stablecoins such as Bitcoin, Ether, XRP and Tether, USDC. This investment has catapulted Trump to the forefront among leading crypto-backed candidates.
Trump’s Turn to Crypto Changes His Previous Attitude
This strategic shift represents a complete turnaround from Trump’s skepticism of digital currencies during his presidency. These donations will play an important role in boosting Trump’s campaign efforts as we approach the 2024 elections.
Donations from Various Sources
The FEC filing showed the donations were collected from a variety of contributors from more than 15 states. These contributions include several major war zones and American territories such as Puerto Rico. Coinbase, Ripple 
$0.540939 Donations from prominent businesses like U.S. and Andreessen Horowitz underscore the crypto community’s support for Trump.
Donald Trump became the first among major presidential candidates to accept donations in digital tokens. This move shows that digital currencies are increasingly accepted in campaign finance.
Trump’s shift from crypto skepticism to advocacy came about through the influence of crypto industry leaders like David Bailey, CEO of BTC Inc., and Elon Musk. This support was crowned with Trump’s attendance at a major Bitcoin conference, showing his full support for the crypto industry.
Trump’s rival Kamala Harris also received a $1 million donation in XRP from Ripple President Chris Larsen. This shows that the use of crypto in political donations is increasing. The 2024 US Elections are moving forward with unprecedented financial contributions from the crypto industry.
Technology and politics are combining to introduce new financing methods in 2024 election campaigns. Cryptocurrencies continue to play an important role in how candidates connect with their supporters. These developments show that crypto contributions may increase their impact in future elections.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
