Crypto Donation For Trump Campaign Reaches IDR 982 Million

Crypto donations for Trump's campaign reached IDR 982 million (Photo; Doc. Newsbit)

JAKARTA - Former President of the United States, Donald Trump, continues to withdraw crypto donations ahead of the upcoming elections. According to data from blockchain analytic firm, Breadturbs, crypto donations recorded on the blockchain for Trump's campaign amounted to around 60,000 US Dollars, equivalent to Rp982 million. This figure does not include donations through centralized crypto exchanges such as Coinbase.

Quoted from Coingape, James Delmore, a data analyst at Breadturbs, said the crypto asset transactions included donations recorded on the blockchain are known as on-chain transactions. On the other hand, unregistered transactions on the blockchain are called off-chain transactions, Delmore said.

The data show that the on-chain donations received so far were sent via the Ethereum, Base, and Polygon networks with the cryptocurrencies received were USDC. The details of the funds show that around 27,500 US Dollars (approximately IDR 450 million) came from Polygon, 20,000 US Dollars (approximately IDR 327 million) from Ethereum, and 11,300 US Dollars (approximately IDR 184 million) from Base.

Overall, Trump's campaign has raised more than 260 million US Dollars (approximately IDR 4.2 trillion) including crypto donations. While traditional donations are still more than digital assets, many see this as a major step towards widespread crypto adoption. In related developments, the Duniars ofVIvoss announced a Bitcoin donation of 2 million US Dollars (approximately IDR 32 billion) for Trump and stated that they would support the former president because of his pro-industrial stance.

Trump's campaign announced the acceptance of crypto donations in May, sparking enthusiasm after he positioned himself as a crypto-supporting candidate. Over the past few years, the US's crypto regulatory space has seen some lawsuits against companies with little or no regulatory clarity. However, a few months before the election, there have been major changes in Congress with efforts to enact laws that support crypto.