As the Republican presidential nominee, Trump has raised over $4 million from a diverse array of digital tokens, a campaign aide revealed to CNBC. Donations have included bitcoin, ether, Ripple's XRP, the stablecoin USDC, and various memecoins, according to a Federal Election Commission filing. The majority of the donations were received in bitcoin.
The comprehensive 1,000-page FEC report details the “Trump 47” joint fundraising committee's activities from April 1 to June 30. During this period, the committee amassed over $118 million, which has been distributed to the Trump campaign, the Republican National Committee, and other affiliated entities.
The filing highlights contributions of more than $2.15 million in bitcoin from at least 19 donors across 12 states, including several battleground states. Donors’ professions range from homemaker to U.S. military officer, missionary, painter, sales representative for a pizza company, and security technician with the State Department.
Leading the contributions are crypto billionaires Tyler and Cameron Winklevoss, each donating 15.57 bitcoin, equivalent to over $1 million at the time. Their contributions exceeded the $844,600 limit, resulting in partial refunds as noted in the filing. Additionally, Mike Belshe, CEO of digital asset security firm BitGo, donated $50,000 in bitcoin.
Trump’s stance on cryptocurrency has notably shifted in recent months, positioning himself as a pro-crypto candidate, a departure from his earlier views as President. In April, he launched a new non-fungible token collection on the Solana blockchain and has since made increasingly positive comments on crypto. His support base now includes influential tech and crypto investors like venture capitalists Marc Andreessen and Ben Horowitz.
On Saturday, Trump will address The Bitcoin Conference at Music City Center in Nashville. The event will also feature a campaign fundraiser, with top-tier tickets priced at $844,600 per person for a seat at a roundtable with Trump. Other ticket options include a photo with Trump at $60,000 per person or $100,000 per couple.
Brian Hughes, a Trump campaign aide, stated that the majority of the over $4 million in crypto donations were received in bitcoin. “Crypto innovators and others in the technology sector are under attack from Kamala Harris and the Democrats,” Hughes said, criticizing the current administration's regulatory stance. He emphasized Trump’s commitment to fostering American leadership in emerging technologies.
As the first major presidential candidate to accept digital token donations, Trump has welcomed contributions in various cryptocurrencies, including dogecoin, shiba inu coin, XRP, USDC, and ether. Notable donations include nearly $845,000 in ether from Kraken founder Jesse Powell and $300,000 in XRP from Ripple's chief legal officer, Stuart Alderoty. Former Messari CEO Ryan Selkis, who recently resigned after controversial statements, donated $50,000 in USDC.
The Trump campaign appears to be converting most crypto contributions to USDC before liquidating them, though some USDC holdings are retained. Trump has pledged to protect the rights of individuals who self-custody their coins, avoiding centralized entities like Coinbase.
At the Libertarian National Convention in May, Trump vowed to protect bitcoin holders from Senator Elizabeth Warren, a known crypto critic. Following a meeting with bitcoin mining executives at Mar-a-Lago, Trump declared that all future bitcoin would be minted in the U.S. should he return to the White House.
In a move applauded by the crypto sector, Trump named Ohio Senator JD Vance as his running mate. Vance, an advocate for looser crypto regulation, disclosed his own bitcoin holdings in 2022. This contrasts with the Biden administration, which has increased crypto regulation, with the SEC intensifying its oversight of the sector.
President Trump is set to give a keynote address at a major bitcoin conference in Tennessee this weekend, where he is likely to find a supportive audience.
