Trump PAC raised $7.5m in crypto since June

A political action committee supporting Donald Trump’s presidential campaign has raised $7.5 million in cryptocurrency.

Contributors to the Trump 47 PAC donated in various digital currencies, including Bitcoin (BTC), Ethereum (ETH), XRP (XRP), and stablecoins like USDC (USDC) and Tether (USDT), according to Business Insider. 

The Trump 47 Committee PAC is a joint fundraising organization supporting Donald Trump’s 2024 presidential campaign. It works alongside the Republican National Committee and has transferred millions to the RNC and other Trump-aligned political action committees to support campaign efforts and legal fees.

The filing covered donations from July 1 to September 30, but noted cumulative contributions. At least 18 donors gave over $5.5 million in Bitcoin, while seven provided $1.5 million in Ethereum.

As of Oct. 14, Polymarket users gave Donald Trump a 58% chance of winning the 2024 U.S. presidential election, with betting volumes nearing $2 billion.

On Sept. 16, Trump launched World Liberty Financial, intending to disrupt traditional finance and offer decentralized finance as an alternative. 

Trump’s embrace of the crypto crowd

Trump has not shied away from expressing a pro-crypto sentiment during his most recent campaign trail. Historically, Trump had a mixed stance on cryptocurrency. In 2019, he expressed skepticism about Bitcoin, calling it “highly volatile.”

However, during this election cycle, Trump said he would embrace crypto in his next presidential term. “Crypto is moving out of the U.S. because of hostility toward it. I don’t want that. If we are going to embrace it, we will have to let them be here,” he said in a recent rally.

On May 21, The Trump campaign introduced a fundraising page that accepts donations in any cryptocurrency available on the Coinbase platform.