Ripple has pledged $5 million worth of XRP to support the inauguration celebration of President-elect Donald Trump and Vice President-elect J.D. Vance.
Other cryptocurrency companies, including Coinbase, Kraken, and Celsius Finance, have also announced substantial donations to the inauguration fund.
Cryptocurrency firms donate over $8 million to Trump inauguration
According to a Fox Business report, Coinbase and Kraken each donated $1 million to the Trump-Pence Inaugural Committee.
This committee is organizing a series of events, including galas, parades, and dinners, to celebrate the November election victory. The three-day celebration is scheduled to take place around the January 20th inauguration.
Meanwhile, Celsius Finance is also reported to have pledged $1 million to the inauguration fund. This announcement came after ONDO hit an all-time high of $2.14 this week, following a $250,000 investment by Trump-backed cryptocurrency project World Liberty Financial.
"Ripple has made a record-breaking donation to Trump. Ripple has contributed $5 million worth of XRP to support Trump's $200 million inauguration fund. This is the largest cryptocurrency donation to date. Cryptocurrency is no longer just an alternative investment. We are witnessing it reshape the political world in real-time," wrote Mario Nawfal on X (formerly Twitter).
However, these donations provide several benefits to the cryptocurrency leaders. Those who donate $1 million or raise $2 million will receive 6 tickets to exclusive events over the inauguration weekend, including a dinner with Trump and Pence, and a reception with members of Trump's new cabinet. This provides perfect opportunities for companies like Ripple and Celsius to gain more favorable influence with the new administration.
Cryptocurrency donations draw attention
Cryptocurrency donations have played a significant role in the current political cycle. As BeInCrypto previously reported, three cryptocurrency-related super PACs contributed a total of $133 million to election campaigns. Ripple, Coinbase, and Jump Crypto were among the major donors.
After the election, Ripple CEO Brad Garlinghouse donated an additional $25 million to the pro-cryptocurrency super PAC Fairshake. This group has already raised $103 million for the 2026 midterm elections.
Following Trump's re-election, cryptocurrency executives have sought direct engagement with the new administration. Earlier this month, Crypto.com CEO Chris Marszalek met with Trump to discuss cryptocurrency-friendly policies and financial appointments.
These efforts have already yielded results. SEC Chair Gary Gensler has resigned, and pro-cryptocurrency advocate Paul Atkins has been appointed as his successor.
Additionally, Trump has named David Sachs as the nation's first AI and Cryptocurrency Czar. These developments suggest the cryptocurrency industry is poised to influence key decisions during the Trump presidency.
