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Circle Contributes $1M USDC To Trump’s Inaugural Committee

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By on January 9, 2025 Altcoin, Bitcoin, Regulations, Trading, Web3
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The post Circle Contributes $1M USDC To Trump’s Inaugural Committee appeared first on Coinpedia Fintech News

In a latest development, Circle CEO took to X to announce Circle’s contribution of 1M USDC to President Trump’s Inaugural Committee. 

@circle has contributed 1M USDC to President Trump’s Inaugural Committee.  We are excited to be building
a great American company, and the fact that the Committee took payment in USDC is an indicator of how far we have come, and the potential and power of digital dollars.

— Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) January 9, 2025

“We are excited to be building a great American company, and the fact that the Committee took payment in USDC is an indicator of how far we have come, and the potential and power of digital dollars,” he remarked.

Circle’s donation is part of a larger trend of cryptocurrency companies backing the upcoming inauguration. Coinbase and Kraken have both contributed $1 million, while Ripple has committed $5 million in XRP. Notably, to date, the US President-elect has received more than $170 million in donations, according to an ABC report. Most of the funds raised have come from tech executives. The committee is expected to raise over $200 million, which will be used for the inauguration event.

Major tech executives have committed substantial donations, including $1 million each from Amazon’s Jeff Bezos, OpenAI CEO Sam Altman, and Meta’s Mark Zuckerberg, CNBC reported last month. Robinhood Markets committed $2 million, while Uber and CEO Dara Khosrowshahi each pledged $1 million.

notably, Trump’s inauguration is set for January 20, 2025, at 12 PM ET. The significant event will take place at the US Capitol in Washington, D.C., marking Trump’s return to the presidency for a second term.

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