US Senators investigate big tech crypto donations to Trump’s inauguration
US Senators Elizabeth Warren and Michael Bennett are investigating large donations from tech and crypto companies to Donald Trump’s inauguration fund. They suspect these contributions could sway regulatory decisions and provide special advantages for the new administration.
OpenAI CEO Sam Altman is being scrutinized for donating $1 million to the fund. He clarified that this was a personal donation and did not represent OpenAI. This situation raises concerns about corporate influence in politics, particularly from major tech and cryptocurrency firms.
In a letter dated January 17, Warren and Bennett requested information from OpenAI regarding Altman’s donation. They highlighted that companies like Microsoft, Google, Amazon, and various crypto firms, including Ripple and Coinbase, contributed millions to the fund. Notably, crypto companies alone donated about $10 million, indicating their hope for favorable regulatory changes under Trump.
The senators worry that these donations might have hidden motives, aiming to influence policies or reduce regulatory oversight. Some of the donor companies, such as Amazon and Google, are already under federal investigation for various legal issues. Warren and Bennett expressed that these contributions could harm fair competition, workers’ rights, and consumer protection, allowing big tech monopolies to expand without checks.
They asked for details about Altman’s donation, including whether OpenAI’s board approved it, who was involved in the decision, and any communication with Trump’s team. The senators set a deadline of January 31, 2025, for a complete response.
Altman responded on Twitter, emphasizing that it was a personal contribution and that his company did not make the decision.
