President Donald Trump’s inaugural committee received donations from a number of crypto companies for his inauguration, according to disclosures filed with the Senate Office of Public Records (OPR). The Senate OPR receives, processes, and maintains records, reports, and other documents for public inspection filed with the Secretary of the Senate.
The President Donald Trump Inaugural Committee is the organization responsible for planning and executing the events related to Donald Trump’s presidential inauguration. This included the swearing-in ceremony, inaugural parade, official balls, and other celebratory events.
According to a report by Bloomberg, crypto firms including Coinbase Inc., Crypto.com, Galaxy Digital, Paradigm Operations and Kraken, each donated $1 million to the inaugural committee. Financial services and trading platform Robinhood Markets also contributed $2 million.
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Other donors to his election campaign were venture capital investors Marc Andreessen and Ben Horowitz, and crypto exchange Gemini co-founders Tyler and Cameron Winklevoss. In addition, energy corporation Chevron Corp. donated $2 million, fission reactors maker Oklo gave $250,000, and the US subsidiary of the German solar panel company Hanwha Q Cells donated $500,000, as did General Electric spinoff GE Vernova.
Further, the trade group American Clean Power Association which represents companies in wind, solar, clean hydrogen and transmission donated $100,000.
The list also includes donors who didn’t give the first time Trump became President including Amazon.com Inc., Meta Platforms Inc. and Goldman Sachs Group Inc., with $1 million each. Healthcare firms Bayer Corporation and Johnson & Johnson also donated.
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Trump, who was sworn in as the 47th President of the US on January 20, launched his meme coin $Trump around the inauguration. While the inauguration led to an initial spike in the coin’s value, it later plummeted drastically by 63 per cent. The coin was down from $14.9 billion as of January 20 to $5.5 billion on Thursday, wiping off around $9.4 billion in market cap, as per data from Coinmarketcap.com.
‘I don’t know if it benefited, I don’t know where it is, I haven’t checked it, but I heard it was very successful,” Trump told reporters at a press meeting last week when asked if crypto would continue to benefit him personally.
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