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Cryptopolitan 2024-12-20 22:58:44

Ripple donates $5 million in XRP to President Trump’s inauguration

Ripple donates $5 million in XRP to President Trump’s inauguration

Ripple just dropped $5 million in XRP into President Donald Trump’s inauguration fund. The Trump-Vance inaugural committee reportedly confirmed it, and it’s the largest crypto contribution they got. The fund, which has already hit over $200 million, will fuel a three-day bash celebrating Trump’s win and VP-elect JD Vance. Coinbase and Kraken each pledged $1 million, while MoonPay chipped in too, though they haven’t shared how much. Kraken co-CEO Arjun Sethi told FOX Business said: “For the first time, we have a President who truly understands the potential of disruptive technology and embraces the crypto sector. We’re excited to continue to work with President-Elect Trump and his administration to push for long-overdue regulatory clarity and unlock this next wave of innovation.” Setting new records The inaugural committee has already smashed fundraising records. They’ve blown past the $107 million raised for Trump’s first inauguration in 2017 and Biden’s $62 million in 2021. Insiders say the total could hit $225 million by Inauguration Day. Major names in tech and crypto, like Jesse Powell from Kraken and Marc Andreessen from Andreessen Horowitz, are also on board. They see Trump as a leader who understands blockchain’s potential and are betting he’ll make policies that encourage innovation. The president has already proven that he meant everything he said during his campaign. The Trump administration is stacked. Former SEC commissioner Paul Atkins, known for being an early Bitcoin believer, will take over from Gary Gensler as SEC Chair. He is expected to ease up on crypto regulations. David Sacks is also joining as the first crypto and AI czar. He’ll work on bridging the gap between regulators and the crypto industry while leading the Presidential Council of Advisors for Science and Technology. Other pro-crypto picks include Scott Bessent as Treasury Secretary and Howard Lutnick as Commerce Secretary, both strong supporters of blockchain. Ripple’s moment and XRP’s rise This spotlight on Ripple brings XRP (XRP) back into focus. The token has had a strong year after its legal battle with the SEC ended in a win. A court ruled that XRP isn’t a security, restoring confidence in the token and pushing its price higher. As of press time, it is the fourth-largest cryptocurrency by market cap, trading at about $2.30—up nearly 500% since the legal win. Analysts are watching resistance at $2.58, with targets of $2.92 and $4.50, while support levels sit at $2.35 and $1.96. Ripple also just launched RLUSD, its dollar-pegged stablecoin, on December 16. Approved by the New York State Department of Financial Services, it’s available on both Ethereum and the XRP Ledger. A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.

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