Crypto Company Ripple And Coinbase Cs Compact Donations For Trump's Inauguration Event

Crypto companies Ripple and Coinbase cs compactly donate donations for Trump's inauguration ceremony (Photo; Doc. Cryptomist)

JAKARTA - As an effort to support the new government, a number of crypto companies based in the United States make major donations to the inauguration ceremony of United States President Donald Trump which will take place on January 20, 2025.

Although this event is completely unrelated to politics, this support indicates the growing hopes of crypto companies on digital pro-asset policies under the Trump administration.

According to reports from Politico, Ripple, Coinbase, Kraken, Robinhood, and Circle into several companies that contributed billions of rupiah to support the event. This support is not a form of political statement, but an industry strategy to get closer to policies that support the growth of blockchain technology and digital currencies.

Ripple, one of the largest blockchain-based payment companies, recorded the biggest donation. Ripple accounts for $5 million in digital tokens to support this inauguration event. Ripple CEO Brad Garlinghouse, and Chief Legal Officer, Stuart Alderoty, are also reported to be attending the event. This move is important for Ripple, who is facing a legal dispute with the US Securities and Exchange Commission (SEC) over the sale of XRP tokens.

Meanwhile, Robinhood, a retail trading platform that also supports crypto transactions, contributes US$2 million (around Rp32.4 billion). Other crypto exchange companies such as Coinbase and Kraken, as well as USDC stablecoin issuer Circle, each donated US$1 million (around Rp16.2 billion).

"It is important for this industry to build a strong relationship with this new government. This is the most pro-crypto president we've seen, and the platform has been clear over the past few months. This is a very interesting moment," said Kara Calvert, Vice President of US Policy at Coinbase.

The attitude of these crypto companies is in line with the pro-crypto policy promised by the Trump administration. The elected president has repeatedly expressed his support for blockchain technology and digital assets as part of an economic strategy.