Trump raises $4 million crypto to aid his journey to POTUS

Former President Donald Trump will be in Tennessee this weekend to give a keynote speech at the Bitcoin conference. The Republican presidential nominee’s crypto contribution plan has paid off.

According to reports, Trump has raised more than $4 million in digital tokens. According to a Federal Election Commission filing, contributors have provided bitcoin, ether, Ripple’s XRP token, the USDC stablecoin tied to the US dollar, and different meme coins.

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The 1,000-plus-page report details the totals for the “Trump 47” joint fundraising committee from April 1 to June 30. According to the report, the group raised more than $118 million during that time period, with payments made to the Trump campaign, the Republican National Group, and other parties.

The report discloses that at least 19 donors contributed more than $2.15 million in BTC to the committee. Contributors come from 12 states, including several battlegrounds. Tyler and Cameron Winklevoss, crypto millionaire twins, led the charge, each donating 15.57 bitcoin, or slightly more than $1 million at the time.

The filing shows that the money was partially reimbursed because their donations exceeded the $844,600 cap. Mike Belshe, CEO of BitGo, contributed $50,000 in bitcoin.

In recent months, DJT has positioned himself as a pro-crypto presidential candidate, changing his former stand during his tenure in office. Trump launched his latest NFT collection on the Solana blockchain in April and has since made increasingly positive comments about crypto.

Trump has, in turn, received support from investors, including venture capitalists Marc Andreessen and Ben Horowitz.

Trump sets to Nashville for the Bitcoin Conference

Trump will be in Nashville on Saturday as a speaker at the Bitcoin Conference, which will be hosted at Music City Center. He will also have a campaign fundraiser in the city on the same day, with tickets priced as high as $844,600 per individual.

Brian Hughes, Trump’s campaign aide, told CNBC that “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.”

Donald is the first major presidential candidate to accept crypto donations. Kraken’s founder and former CEO, Jesse Powell, gave  $845,000 in Ether, and Stuart Alderoty, Ripple’s chief legal officer, contributed $300,000 in XRP. 

Former Messari CEO Ryan Selkis, who resigned from the company he co-founded last week after blogging about “literal war” on Trump opponents, donated $50,000 USDC.

DJT has committed to defending the rights of those who prefer to self-custody their coins. This means they do not rely on a centralized company like Coinbase but instead use crypto wallets, which are sometimes beyond the IRS’s jurisdiction.

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Trump similarly promised at the Libertarian National Convention in Washington in May to keep Sen. Elizabeth Warren, D-Mass., and “her goons” away from bitcoin holders. Warren is a strong crypto critic.

Meanwhile, during a meeting at his Mar-a-Lago club in Florida, Trump said that if he returns to the White House, all future Bitcoin will be coined in the United States. Trump selected Ohio Sen. JD Vance as his running mate, which many saw as a victory for the crypto industry.