Circle, the second largest stablecoin issuer in the crypto market, has contributed one million USDC to Trump’s presidential inaugural committee.
The donation follows those of cryptocurrency exchanges Coinbase and Kraken and blockchain payment firm Ripple.
Circle Becomes the Latest Industry Leader to Donate
The crypto industry has continually supported the incoming Trump administration, which has made several promises to make the US a leading market for crypto innovation. Circle, one of the largest US stablecoin issuers, further solidified that support by donating $1 million USDC to Trump’s inaugural fund.
“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,” wrote Circle’s CEO Jeremy Allaire on X (formerly Twitter).
USDC’s market cap has gradually increased since Trump’s re-election. The ongoing bull market drove stablecoin demand across the market, and US companies benefited largely from the regulatory optimism.
Most notably, Tether’s setback in Europe due to MiCA has boosted USDC’s demand across the global market.
Meanwhile, tech executives and major donors have already contributed significantly to Trump’s inaugural fund, exceeding $170 million so far. The inaugural committee is responsible for organizing a series of events, including galas, parades, and dinners, to celebrate the November election victory.
The three-day celebration will take place around the January 20 s
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Author: Camila Grigera Naón
