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Strong Cryptocurrency Support for Trump's Campaign: 7.5 Million Dollars Raised

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2 hours ago

A political action committee supporting Donald Trump's presidential campaign raised approximately 7.5 million dollars in cryptocurrency donations from July to September 2024. These donations came from significant cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), XRP, and the US dollar-backed stablecoin USDC.

Cryptocurrency Support Strengthens the Campaign

The Trump 47 joint fundraising committee reported a significant flow of funds in digital currencies from the beginning of July through the end of September. According to the recent filing with the Federal Election Commission, these donations materialized in forms such as Bitcoin, Ether, XRP, and stablecoins like USDC.

This investment has positioned Trump prominently among leading crypto-supported candidates.None

Trump's Shift Towards Cryptocurrency

This strategic change represents a complete turnaround from Trump's previous skepticism towards digital currencies during his presidency. As the 2024 elections approach, these donations will play a crucial role in boosting Trump's campaign efforts.

Diverse Sources of Donations

The FEC filing indicates that contributions were collected from more than 15 states, including several battlegrounds and U.S. territories like Puerto Rico. Donations from leading firms like Coinbase, Ripple, and Andreessen Horowitz highlight the crypto community’s support for Trump.

Donald Trump became the first major presidential candidate to accept donations in digital tokens.None

Technology and politics are converging to reveal new financing methods in the 2024 election campaigns. Cryptocurrencies continue to play a significant role in how candidates connect with their supporters. These developments suggest that the impact of crypto contributions may increase in future elections.

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