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.

According to Business Insider, 47 Trump PAC contributors donated in a variety of digital currencies, including Bitcoin (BTC), Ethereum (ETH), XRP (XRP), and stablecoins such as USDC (USDC) and Tether (USDT).

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

The filing covered donations made from July 1 through Sept. 30, but also noted cumulative contributions. At least 18 donors donated over $5.5 million in Bitcoin, while seven donors provided $1.5 million in Ethereum.

As of October 14, Polymarket users told Donald Trump he had a 58% chance of winning the 2024 US presidential election, with betting volumes approaching $2 billion.

Trump founded World Liberty Financial on September 16 with the aim of disrupting traditional finance and offering decentralized finance as an alternative.

Trump’s embrace of the crypto crowd

Trump did not shy away from voicing pro-crypto sentiment during the recent campaign. Historically, Trump has had a mixed stance on cryptocurrency. In 2019, he expressed skepticism about Bitcoin, calling it “extremely volatile.”

But during this election cycle, Trump said he would embrace crypto during his next presidency. “Cryptocurrency is moving out of the USA due to hostility towards it. I don’t want this. If we’re going to embrace this, we’re going to have to let them be here,” he said at a recent rally.

On May 21, the Trump campaign launched a fundraising page accepting donations in any cryptocurrency available on the Coinbase platform.