Circle Donates $1 Million in USDC to President-elect Donald Trump’s Inaugural Committee

Circle, the company behind the popular stablecoin USDC, has donated $1 million to President-elect Donald Trump’s inaugural committee. Circle CEO Jeremy Allaire announced the contribution on social media, highlighting the growing adoption of digital currencies in mainstream finance.

The Significance of USDC in Mainstream Finance

USDC, a stablecoin, is a type of cryptocurrency pegged to traditional currencies like the U.S. dollar, aiming to maintain a consistent value. The fact that the inaugural committee accepted payment in USDC demonstrates the increasing recognition of digital currencies in mainstream finance.

“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, Circle CEO

Cryptocurrency Companies Supporting the Inauguration

Circle’s donation is part of a broader trend of cryptocurrency companies supporting the upcoming inauguration. Other notable contributors include:

  • Coinbase and Kraken, each donating $1 million
  • Ripple, pledging $5 million in XRP, another digital asset

Last year, during Trump’s campaign, the billionaire Winklevoss twins each donated $1 million in Bitcoin to Trump.

Donald Trump’s Stance on Cryptocurrency

Trump’s public enthusiasm for Bitcoin is evident in his recent statements. His administration is expected to capitalize on this momentum to attract investment and encourage digital asset adoption as part of a broader economic strategy.

Trump also spoke in a video address to the Blockchain Association last month, reaffirming his administration’s commitment to supporting blockchain innovation while addressing national security concerns.

During his 2024 campaign, Trump publicly expressed support for cryptocurrency, marking a significant shift from his mixed views in the past. He even introduced a fundraising page that accepts donations in any cryptocurrency available on the Coinbase platform.

For more news on cryptocurrency and blockchain, stay tuned to Global Crypto News.

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