Trump receives over $4 million in cryptocurrency donations.

• Former President Donald Trump has raised over $4 million in cryptocurrencies.
• According to a Federal Election Commission filing, contributors to the Trump 47 Committee have donated bitcoin, ether, Ripple's XRP token, and the U.S. dollar pegged stablecoin USDC.
• Trump is keynoting a major bitcoin conference in Nashville on Saturday.

This weekend, former President Donald Trump will give a keynote address at a significant bitcoin conference in Tennessee, where he is likely to receive a warm reception.

The Republican nominee for president, Trump, has received more than $4 million in donations from a variety of digital tokens, including Ripple's XRP, the U.S. dollar pegged stablecoin, and various memecoins, as per a Federal Election Commission filing.

According to the report, the "Trump 47" joint fundraising committee raised over $118 million from April 1 to June 30, with the funds distributed to the Trump campaign, the Republican National Committee, and other parties.

More than $2.15 million in bitcoin was donated to the committee by at least 19 contributors from 12 states, including battlegrounds. Their professions include homemaker, U.S. military officer, missionary, painter, sales rep for a pizza company, and a security technician with the State Department.

The crypto billionaire twins Tyler and Cameron Winklevoss led the charge in donating to the Ethereum Foundation, each contributing 15.57 bitcoin, or just over $1 million at the time. However, their contributions exceeded the $844,600 limit, causing the filing to indicate that the money was partially refunded. Mike Belshe, CEO of digital asset security company BitGo, also contributed $50,000 in bitcoin to the foundation.

Trump has shifted his stance on cryptocurrency and is now promoting himself as a pro-crypto candidate for president. He recently launched a non-fungible token collection on the Solana blockchain and has been making increasingly positive comments about crypto. Trump has gained the support of influential tech and crypto investors, including venture capitalists Marc Andreessen and Ben Horowitz.

On Saturday, Trump will give the keynote address at The Bitcoin Conference in Nashville and also host a campaign fundraiser in the city, with ticket prices reaching up to $844,600 per person.

The invitation states that top-tier tickets cost the maximum donation amount allowed for individuals to give to the Trump 47 Committee and include a seat at a roundtable with the former president. The next level down offers a photo with Trump for $60,000 per person or $100,000 per couple.

A Trump campaign aide, Brian Hughes, stated that out of the over $4 million in cryptocurrency funds raised, the majority of it was in the form of bitcoin.

"Hughes stated that crypto innovators and individuals in the technology sector are facing attacks from Kamala Harris and the Democrats. According to Hughes, the Biden-Harris Administration is hindering innovation through increased regulation and higher taxes, while President Trump is prepared to promote American leadership in emerging technologies."

Trump, the first presidential candidate to receive digital token donations, can accept contributions in various cryptocurrencies, including dogecoin, shiba inu coin, XRP, USDC, and ether.

Jesse Powell, founder and former CEO of Kraken, donated $845,000 in ether, while Ripple's chief legal officer, Stuart Alderoty, gave $300,000 in XRP tokens. Alderoty recently attended a Trump fundraising event hosted by venture investor David Sacks in San Francisco.

Ryan Selkis, the former CEO of Messari who resigned after posting about "literal war" on Trump opponents, donated $50,000 in USDC.

The Trump campaign has been converting most of its contributions to USDC and then liquidating them. However, in certain instances, the campaign has chosen to hold onto the USDC.

Trump has promised to safeguard the rights of individuals who prefer to manage their cryptocurrencies independently, without relying on centralized platforms like Coinbase, which may be beyond the IRS's jurisdiction.

Trump pledged at the Libertarian National Convention in May to safeguard bitcoin owners from Elizabeth Warren, a vocal critic of cryptocurrency.

Trump declared that all future bitcoin will be minted in the U.S. if he returns to the White House, following a meeting with about a dozen bitcoin mining executives at his Mar-a-Lago club in Florida.

Trump selected Ohio Sen. JD Vance as his running mate, a move that many saw as a victory for the crypto industry. Vance has been an advocate for relaxed crypto regulations and disclosed in 2022 that he personally owns bitcoin.

The SEC has intensified its actions on the crypto sector, with the Biden White House supporting the move towards greater regulation of the industry.

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