Circle donates $1 million in USDC to Trump inaugural committee

By Daniele Corno

Donald Trump's inaugural committee receives a $1 million USDC donation from Circle, joining Coinbase, Kraken and Ripple

Circle and support for Trump

Earlier today Circle donated USDC 1 million to Donald Trump’s inaugural committee.

The announcement, comes via a post on X by Jeremy Allaire, CEO of Circle. Allaire said this donation represents a crucial step in the adoption of the industry with the incoming administration.

@circle has contributed 1M USDC to President Trump’s Inaugural Committee. We are excited to be building
a great American company, and the fact that the Committee took payment in USDC is an indicator of how far we have come, and the potential and power of digital dollars.

— Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) January 9, 2025

Allaire further adds that: “We are excited to build a great American company. The fact that the committee accepted USDC shows how far we have come and the potential of these digital dollar solutions.” This is Circle’s first major political donation in the United States, underscoring the company’s commitment to greater integration between the crypto and political worlds.

The role of the crypto sector in politics

According to Open Secrets, the inaugural committee raised more than $200 million from private and corporate companies.

Key contributors include crypto companies such as Ripple, Kraken and Coinbase, but also tech giants such as Meta and Google, which have chosen to support the Trump administration. This broad support is linked to the new president’s promises to create favorable regulations and work closely with the industry.

In addition, Trump has already taken concrete steps, such as appointing David Sacks as an adviser on crypto and AI. He has also initiated dialogues with industry leaders, including Kris Marszalek of Crypto.com and Brad Garlinghouse, CEO of Ripple, to explore future opportunities. These signals confirm the administration’s intention to build a strong alliance between government and the crypto industry.