Since early June, the Trump PAC has received approximately $7.5 million in cryptocurrency contributions.

• An organization backing Donald Trump's presidential campaign has collected approximately $7.5 million in cryptocurrencies.
• According to a Federal Election Commission filing, contributors to the Trump 47 Committee donated bitcoin, ether, XRP, and the U.S. dollar-pegged stablecoin USDC.
• On Tuesday, the former President Trump announced a token sale for his crypto project, which aligns with his pro-crypto campaign platform.

An organization advocating for former President Donald Trump has amassed approximately $7.5 million in digital currencies.

According to a Federal Election Commission filing submitted on Tuesday, contributors to the Trump 47 joint fundraising committee donated bitcoin, ether, and other cryptocurrencies, as well as US-dollar pegged stablecoins like USDC, to the GOP presidential nominee's campaign.

The PAC stated that the most recent filing encompassed donations received between July 1 and September 30; however, the figures contained cumulative contributions.

The 2024 election is fast approaching, with polling averages indicating a close contest. Trump is seeking financial support from the crypto community to boost his chances of winning. In May, he became the first major presidential candidate to accept donations in digital tokens, positioning himself as the pro-crypto candidate in this election.

A recent report from Public Citizen indicates that nearly half of the corporate money flowing into the election has come from the crypto industry. The sum was raised from a mix of contributors, with Coinbase, Ripple, and venture firm Andreessen Horowitz accounting for most of those business donations. The industry has raised roughly 13 times the amount it brought in during the last presidential election year.

According to the filing, 18 donors contributed more than $5.5 million in bitcoin to Trump 47, while seven others donated approximately $1.5 million in ether.

More than 15 states were represented by the contributors, including some battlegrounds and Puerto Rico. Their professions include Lockheed Martin software engineer, Duthie Power Services sales engineer, and an Esperanza Entertainment producer.

David Bailey, CEO of BTC Inc., gave over $498,000 in bitcoin and helped turn Trump from a skeptic to an evangelist. Bailey was part of a group of bitcoin enthusiasts who indoctrinated Trump and ultimately led him to headline the largest bitcoin conference of the year in Nashville in July.

In his keynote, Trump announced that his campaign had received $25 million from the crypto industry, but he did not specify the breakdown between digital tokens and dollar donations.

One of the new donors to the project is Chase Herro, a co-founder of the Trump family's new crypto venture, World Liberty Financial. The platform, which is described as a decentralized bank that promotes borrowing, lending, and investing in crypto, began its token sale on Tuesday.

Despite technical difficulties, more than $10.2 million worth of WLFI tokens have been sold, falling short of the initial fundraising goal of $300 million.

BitGo CEO Mike Belshe donated nearly $100,000 worth of bitcoin.

David Sacks, the founder of Craft Ventures, received $6,560 in bitcoin from partner Brian Murray.

Trevor Traina, founder of Kresus Labs, donated over $25,000 in ether, Bruce Fenton, CEO of Chainstone Labs, contributed over $60,000 in bitcoin, and Gary Cardone of Cardone Digital Ventures donated over $840,000 in bitcoin.

As previously reported by CNBC, Ripple legal chief Stuart Alderoty donated $300,000 in XRP at a Trump fundraising event hosted by Sacks in San Francisco in June.

Ripple's billionaire co-founder Chris Larsen, who gave $1 million worth of XRP tokens to Future Forward, a super PAC supporting Vice President Kamala Harris' run for the White House, is at odds with Alderoty. Future Forward started accepting donations in crypto in September.

Larsen expressed confidence in Harris, despite the crypto industry's criticism of SEC Chair Gensler and the Biden administration's aggressive approach towards companies in the space, because she hails from the Bay Area.

"Larsen stated in an interview with CNBC that she understands the innovation economy because she has grown up with people who have experienced it their entire lives. She believes that this understanding allows her to appreciate the importance of empowering workers and ensuring that American companies remain dominant in their industries, which the Biden administration may have overlooked or failed to connect."

Uniswap legal chief Marvin Ammori, in addition to Larsen, gave money to the Harris Action Fund. Like Ripple, Uniswap is battling claims it violated U.S. securities laws.

The billionaire twins Tyler and Cameron Winklevoss, who support Trump, have donated nearly $1.1 million each, but some of that money was refunded in September due to exceeding the maximum allowed.

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