The crypto industry’s growing engagement in the political sphere is becoming increasingly apparent. Recent disclosures reveal significant financial backing for Donald Trump’s inauguration, with several major blockchain companies making substantial, previously unpublicized contributions.
Federal Election Commission documents, made public around April 20th, shed light on these discreet donations to Trump’s inauguration fund. The filings indicate Solana Labs, a key player in the blockchain space, contributed $1 million, a move not previously announced to the public.
Similarly, Hayden Adams, CEO of the prominent DeFi platform Uniswap, directed $245,000 to the fund. Blockchain software firm Consensys added $100,000, also without significant public disclosure.
These contributions were part of a massive $239 million raised for the elaborate inaugural festivities. The event prominently featured its corporate sponsors, including executives from the digital asset sector. This quiet support highlights a potential strategy by some crypto firms to gain influence or foster favorable relations without attracting widespread attention.
Alongside these quieter donations, the filings confirmed previously disclosed seven-figure sums from other crypto giants. Coinbase, Ripple Labs, Kraken, Ondo Finance, and Robinhood were reaffirmed as major contributors, cementing the industry’s significant financial presence in political funding.
Ripple Labs stood out with a substantial $4.9 million donation for the event, making it one of the largest contributors overall. Only U.S. poultry producer Pilgrim’s Pride Corp donated more. Other major million-dollar donors included tech behemoths Apple and Meta, Apple CEO Tim Cook, and AI firms represented by OpenAI CEO Sam Altman and Perplexity AI.
While the U.S. government covers the cost of the official swearing-in ceremony, the surrounding celebrations rely on private funding. Presidential Inaugural Committees are established as non-profit entities specifically to collect these donations from private individuals and corporations.