This year, the cryptocurrency industry was mentioned in many election campaigns. Although both parties were fighting it out for the election, the former president Donald Trump appeared to be the winner with cryptocurrency enthusiasts.
Trump seems to have caught Bitcoin’s bug much earlier than Kamala. One of his prominent moves during that period was to allow cryptocurrency donations for the campaign.
You may also like: Cryptocurrency Trader Turns $727 Into $2.44 Million In 5 Days
The Impact Of Cryptocurrency Donations On Trump’s Campaign
Recent studies have shown that data, Donald Trump’s presidential campaign successfully raised a staggering $7.5 million in cryptocurrency donations. Donations were made using major cryptocurrencies including Bitcoin (BTC), Ethereum, XRP and USDC. This happened in just a short time, between the start of July and the end of September 2024.
The FEC’s report revealed the contributions were from many different donors. They came from more than 15 states.
You may also like: Trump’s US Dollar Tariff Plan May Push These 5 ASEAN Nations Away
Diving Deeper Into Donald Trump’s Cryptocurrency Donations
There were donations everywhere. Reports Public Citizen, a nonprofit organization, noted that nearly half the corporate financing for the elections has come from the cryptocurrency market. A number of donors made up the total.
Most of the donations from commercial sources came from Coinbase Ripple as well as venture capital Andreessen Horowitz.
In the last presidential election, this sector has raised roughly 13 times what it did. In addition, the filings showed that Trump 47 had received over $5.5 Million in Bitcoin from 18 donors. Additional seven donors each contributed $1.5 million worth of ETH.
You may also like: US Bank Pays $29 Million to Customers After Bombarding Them With Calls
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru
