Former President Donald Trump’s campaign collected $3 million in cryptocurrency donations during the last quarter, with a significant portion coming in the form of bitcoin and ether, as reported by the Wall Street Journal. The latest campaign finance data reveals that Trump’s recent adoption of crypto as a fundraising tool attracted substantial contributions from prominent figures in the industry, such as the Winklevoss twins and Jesse Powell, co-founder of Kraken exchange.
Approximately 100 individuals contributed cryptocurrency to Trump’s campaign between May and June, underscoring the appeal of this innovative fundraising method. While a considerable number of supporters opted for traditional forms of donation, like credit cards, the crypto donations played a pivotal role in shaping Trump’s image as a candidate supportive of the cryptocurrency sector.
Despite the relatively modest size of the crypto donations compared to the overall fundraising amount of $331 million in the second quarter, their impact extended beyond their monetary value. Trump’s vocal advocacy for a more favorable regulatory environment for crypto in the United States has resonated with supporters within the industry, further solidifying his stance as a proponent of blockchain technology and digital assets.
The strategic inclusion of cryptocurrency in the campaign’s fundraising efforts not only diversified the donor base but also garnered significant media attention, showcasing Trump as an early adopter of this emerging financial landscape. By positioning himself as a candidate open to embracing technological advancements and fostering innovation, Trump has attracted a niche yet influential segment of supporters who value his forward-looking approach to economic policies.