Former President Donald Trump is set to deliver a keynote address at a major bitcoin conference in Tennessee this weekend, likely to be well-received by the audience. Trump, the Republican nominee for president, has raised over $4 million through various digital tokens, including bitcoin, ether, Ripple’s XRP token, the U.S. dollar-pegged stablecoin USDC, and several memecoins, as revealed by a campaign aide to CNBC. According to a Federal Election Commission filing, contributions have come in from a diverse group of donors.
The comprehensive report details the fundraising efforts of the “Trump 47” joint committee from April 1 to June 30, showcasing a total of over $118 million raised. The funds are allocated to the Trump campaign, the Republican National Committee, and other entities. The filing indicates that at least 19 donors contributed more than $2.15 million in bitcoin from 12 states, including some key battlegrounds. Donors’ professions vary widely, ranging from homemakers and U.S. military officers to sales representatives and security technicians.
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Leading contributors include crypto billionaire twins Tyler and Cameron Winklevoss, each donating 15.57 bitcoin, valued at over $1 million at the time. Due to contribution limits, part of their donations was refunded. Mike Belshe, CEO of BitGo, also contributed $50,000 to bitcoin.
Recently, Trump has shifted to a pro-crypto stance, a notable change from his earlier position as president. He launched a new non-fungible token (NFT) collection on the Solana blockchain in April and has since made positive remarks about crypto. This shift has garnered him support from influential tech and crypto investors like Marc Andreessen and Ben Horowitz.
Trump will speak at The Bitcoin Conference at the Music City Center in Nashville on Saturday and will host a campaign fundraiser with ticket prices up to $844,600. Top-tier tickets include a roundtable seat with Trump, while lower-tier options include a photo opportunity at $60,000 per person or $100,000 per couple.
Brian Hughes, a Trump campaign aide, mentioned that most of the over $4 million in crypto donations were in bitcoin. Hughes criticized the current administration, stating, “Crypto innovators and others in the technology sector are under attack from Kamala Harris and the Democrats. While the Biden-Harris Administration stifles innovation with more regulation and higher taxes, President Trump is ready to encourage American leadership in this and other emerging technologies.”
Trump, the first major presidential candidate to accept digital token donations, can receive contributions in several cryptocurrencies, including dogecoin, Shiba Inu coin, XRP, and USDC. 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. Ryan Selkis, former CEO of Messari, donated $50,000 to USDC.
The Trump campaign generally converts these crypto contributions to USDC before liquidating them, although they sometimes retain the USDC. Trump has vowed to protect the rights of those who self-custody their coins, using crypto wallets beyond centralized entities’ reach, like Coinbase. At the Libertarian National Convention in May, Trump promised to keep Senator Elizabeth Warren, a vocal crypto critic, from interfering with bitcoin holders.
After meeting with bitcoin mining executives at Mar-a-Lago, Trump pledged that all future bitcoins would be minted in the U.S. if he returns to the White House. He also named Ohio Senator JD Vance as his running mate, a favorable choice for the crypto sector, given Vance’s advocacy for looser crypto regulations and personal investment in bitcoin.
The Biden administration has increased crypto regulation, with the SEC stepping up its actions in the sector in recent years.
David Ma was born in 1980 in California, is a Vietnamese American, known as one of the entrepreneurs and investors in the field of cryptocurrency and stock market. In 2006, he graduated from Stanford University with honors and began his career in business.
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