Cryptocurrency giants Ripple, Coinbase, Kraken support Trump — will regulation change?
Cryptocurrency companies are entering the political arena by making substantial donations to President Donald Trump's inauguration committee, aligning themselves with big tech and American businesses, Fox Business reports. Coinbase and Kraken each donated $1 million to the Trump-Vance inauguration committee, which is responsible for organizing the inauguration events for Trump and incoming Vice President JD Vance on January 20. Ripple has pledged to donate $5 million in XRP tokens, which is one of the largest cryptocurrency donations to date.
Coinbase's Vice President of U.S. Policy, Kara Calvert, explained the company's motivations, stating:
Kraken co-CEO Arjun Sethi emphasized the importance of industry support, telling the media: "For the first time, we have a president who truly understands the potential of disruptive technology and embraces the cryptocurrency space."
In addition to the mentioned donors, Moonpay also confirmed a donation but declined to disclose the amount. These donations are part of a record-breaking $200 million commitment from corporations and individuals, surpassing the $107 million raised for Trump's 2017 inauguration and far exceeding the $62 million raised by Joe Biden's committee in 2021.
The cryptocurrency industry's enthusiasm for Trump stems from his business-oriented stance and recent favorable actions towards digital assets. After winning in November, Trump nominated known cryptocurrency supporter Paul Atkins to lead the U.S. Securities and Exchange Commission (SEC). David Sacks was appointed as the government's cryptocurrency and artificial intelligence director, further indicating alignment with blockchain interests.
Ripple CEO Brad Garlinghouse expressed optimism, noting:
"I am optimistic that we can ultimately emerge from the failed crypto war initiated by Elizabeth Warren's attack dog, Chairman Gensler," he believes.#加密市场盘整