Two weeks before the 2024 US Presidential Elections, cryptocurrency donations have attracted attention. These donations, which exceed 190 million dollars in total, are followed closely by cryptocurrency industry experts and lawyers. According to them, convincing voters is of great importance to create a healthy crypto environment in the USA.
Cryptocurrency Donations Are Rapidly Increasing
In this year’s elections, cryptocurrency donations exceeded $190 million. According to CNBC’s report, 130 million of this amount was spent on Congressional races and primary. A group called Fairshake draws attention with the donations it makes to candidates in critical regions. It is stated that these donations are aimed at supporting pro-crypto politicians, as well as ensuring that California remains a crypto hub.
Donald Trump’s PAC Raises $7.5 Million in Cryptocurrency Donations
A political action committee (PAC) supporting former President Donald Trump has raised nearly $7.5 million in cryptocurrency donations. These donations, Bitcoin 
$66,895Ethereum 
$2,622was done through stablecoins such as XRP and USDC. This committee, which supports Trump, has once again shown that cryptocurrencies are an effective tool in political campaigns, while raising a significant amount of funds.
Fairshake stands out as one of the most active PACs of this year. Particularly in September, the committee spent 29 million dollars and transferred 20 million of this amount to two political committees. Experts state that these expenditures may have significant effects on the election results.
Cryptocurrency Market and the Impact of Elections
The cryptocurrency market reacted positively as Trump became more likely to win the election. According to Polymarket data, Trump’s chances of winning have increased to 63.5%. Bitcoin rose as high as $69,000 during this period, but although altcoins also participated in this rally, the market struggled at significant resistance levels. Experts say the cryptocurrency industry has the potential for further growth if Trump is re-elected.
Ripple 
$0.533468The $10 million donation made by Chris Larsen, the founder of , to Kamala Harris attracted attention. This caused controversy in the XRP community. Ripple’s other co-founder, Brad Garlinghouse, expressed his reaction by saying, “We need to change this administration’s attitude towards crypto.”
As a result, the role of cryptocurrencies in US elections is growing. The impact of both donations and policies on the market is carefully monitored in the cryptocurrency world. In this process, it is anticipated that cryptocurrency donations will play a greater role in shaping future policies.
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.
