Circle Donates $1 Million to Trump Inaugural Fund Amid Industry Support

Circle has donated $1 million in USDC to the inaugural fund for President Donald Trump and Vice President-elect J.D. Vance, signaling support from the cryptocurrency industry.

Other contributors include Ripple ($5 million in XRP), Coinbase, Kraken, and Ondo Finance ($1 million each).
Robinhood made the largest donation at $2 million.
Donors will receive benefits like gala tickets and access to exclusive events with high-profile officials.
The inaugural fund has raised over $170 million, mainly from crypto companies.
Crypto-focused super PACs contributed over $133 million in the recent election cycle, with Ripple's CEO donating $25 million to Fairshake.
USDC's market cap is increasing amid rising demand and Tether's challenges in Europe.
The collaboration aims to influence regulatory clarity and strengthen ties between the crypto sector and policymakers.

The inauguration is set for January 20, featuring various events, indicating a growing partnership between the crypto industry and the new administration.