The Donald Trump reelection campaign has garnered $3 million in contributions in the form of digital assets during the second quarter of 2024. This represents a notable shift from Trump’s previous portrayal of Bitcoin as a fraudulent scheme.
The increase in fundraising occurs as Donald Trump strategically prepares for another presidential campaign, with the Trump 47 Committee receiving significant donations from prominent individuals in the Bitcoin sector.
Cameron and Tyler Winklevoss, the co-founders of Gemini, are at the top of the contributor list with a commitment of $2 million in Bitcoin on June 20. Jesse Powell, one of the co-founders of Kraken, also pledged to contribute $1 million worth of Ether (ETH) on June 28th.
Nevertheless, the criteria set by the Federal Election Commission (FEC) require that donations exceeding the maximum individual contribution limit of $844,600 be partially refunded.
Ryan Selkis, the ex-CEO of Messari, made a donation of $50,000 in USD Coin, while Stuart Alderoy, the chief legal officer of Ripple, provided $300,000 in XRP. Among the smaller contributions were a $500 Bitcoin donation from a homemaker in Alabama, as well as other smaller sums from pensioners and self-employed persons.
Michael Belshe, the Chief Executive Officer of BitGo, contributed $50,000 worth of Bitcoin to the campaign’s funds.
In Q2 2024, the Trump 47 Committee disclosed that they raised a sum of $118 million, comprising both crypto and fiat. This brings the total amount raised by the campaign to over $142 million for the year. The arrival of funding is occurring at a critical moment as Donald Trump endeavors to strengthen his standing within the Republican Party.
Just recently, the twins also have donated $1 million in Bitcoin to republican candidate John Deaton, who is competing against Senator Elizabeth Warren in Massachusetts.
