Circle is donating $1 million in USDC, a leading stablecoin, to President-elect Donald Trump’s inaugural committee.
Circle CEO Jeremy Allaire announced the contribution on social media, highlighting its significance.
“The fact that the Committee took payment in USDC is an indicator of how far we have come,” he stated, adding that the donation showcases the potential and power of digital dollars in transforming traditional finance.
@circle has contributed 1M USDC to President Trump’s Inaugural Committee. We are excited to be building a great American company, and the fact that the Committee took payment in USDC is an indicator of how far we have come, and the potential and power of digital dollars.
USDC, or USD Coin, is a type of stablecoin—a cryptocurrency pegged to the US dollar—designed to maintain a stable value.
Unlike volatile cryptocurrencies like Bitcoin, stablecoins are increasingly being used for transactions, donations, and other real-world applications.
Circle’s contribution is part of a broader wave of support for Trump’s upcoming inauguration from the crypto industry.
Major players such as Coinbase and Kraken have each donated $1 million, while Ripple pledged $5 million in XRP.
Last year, during Trump’s campaign, the Winklevoss twins, known for their involvement in Bitcoin, donated $1 million each to support his bid.
Donald Trump and cryptocurrency
Donald Trump’s relationship with cryptocurrency has evolved significantly.
During his 2024 campaign, he publicly expressed support for digital assets, a shift from his previously mixed views.
His campaign even introduced a fundraising page accepting a wide range of cryptocurrencies, including Bitcoin, Ethereum, and others available on the Coinbase platform.
In a recent video address to the Blockchain Association, Trump reaffirmed his administration’s commitment to blockchain innovation, balancing this stance with a focus on addressing national security concerns.
His administration is expected to encourage further investment in digital assets as part of its broader economic strategy.
The involvement of leading crypto companies in Trump’s inauguration and the increasing adoption of blockchain technologies signal a turning point for cryptocurrencies, cementing their place in the political and financial mainstream.
Source : https://invezz.com/news/2025/01/09/donald-trumps-inauguration-fund-receives-1m-usdc-donation-from-circle/
