Circle Donates $1M USDC to Trump Inaugural Committee

Circle Donates $1M USDC to Trump Inaugural Committee

Circle CEO Jeremy Allaire announced on social media that the company made a donation in USDC, to the inaugural committee. He highlighted that the committee’s acceptance of USDC reflects the growing acceptance of digital currencies in mainstream finance.

@circle has contributed 1M USDC to President Trump’s Inaugural Committee. We are excited to be building
a great American company, and the fact that the Committee took payment in USDC is an indicator of how far we have come, and the potential and power of digital dollars.

— Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) January 9, 2025

“The fact that the committee accepted payment in USDC shows how far we’ve come,” Allaire wrote, adding that it demonstrates the potential and power of digital dollars.

USDC, a stablecoin, is designed to maintain a consistent value by being tied to traditional currencies like the U.S. dollar. Unlike other cryptocurrencies, stablecoins aim to provide greater stability in value.

Circle’s donation is part of a larger trend of cryptocurrency companies contributing to the upcoming inauguration. Other notable contributions include $1 million each from exchanges like Coinbase and Kraken, while blockchain company Ripple has pledged $5 million in XRP, another digital currency.

This trend follows similar contributions during the last election. For example, the Winklevoss twins, well-known Bitcoin billionaires, donated $1 million each in Bitcoin to Donald Trump’s campaign.

“Trump Embraces Cryptocurrency in 2024 Campaign Strategy”

Donald Trump has recently shown strong support for Bitcoin, emphasizing its importance in his statements. His administration is expected to leverage this momentum to attract investment and promote the adoption of digital assets as part of a broader economic strategy.

In a video address to the Blockchain Association last month, Trump reiterated his administration’s dedication to fostering blockchain innovation while ensuring national security is not compromised.

During his 2024 campaign, Trump made a notable shift in his stance on cryptocurrency, moving from mixed opinions in the past to openly supporting it. He even launched a fundraising page that accepts donations in any cryptocurrency available on Coinbase.

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