Multiple tech companies as well crypto giants have reportedly donated to the inauguration fund of Republican candidate and US President-elect Donald Trump.
The tech giants include Microsoft Corp., Alphabet Inc.’s Google, and Adobe Inc. each have donated $1 million for the incoming US president’s festivities, according to a Bloomberg report.
Microsoft had contributed $500,000 to inaugural funds in both 2017 and 2021.
Even Amazon.com Inc., Meta Platforms Inc., as well as OpenAI’s CEO Sam Altman are donating to the fund.
Apple Inc. CEO Tim Cook is giving $1 million to the inaugural committee as well.
Meanwhile, they were joined by crypto companies since Trump has been an ardent supporter of such digital assets.
Trump’s re-election resulted in the rally of Bitcoin, the most prominent cryptocurrency, with it crossing the $100,000 mark for the first time ever.
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Circle CEO Jeremy Allaire said this Thursday on X (Formerly Twitter) that the stablecoin company has contributed tokens worth $1 million to the fund.
Similarly, Coinbase Global Inc., the largest crypto exchange in the US, Kraken, and startup Ondo have all pledged $1 million for this.
Coinbase’s donation happened even before the election results were even known, the company said.
“Coinbase is committed to working with the administration and both sides of Congress to create regulatory clarity for crypto, and it’s important to engage early in order to hit the ground running,” a Bloomberg report quoted Coinbase Vice President for US Policy Kara Calvert as saying. “That’s why Coinbase committed to supporting President Trump’s transition and ultimately his inauguration well ahead of the election.
“We are eager to work with the most pro-crypto Administration in the US history as we build the future of crypto in America,” she added.
Ripple also had said in December that it planned to donate $5 million worth of XRP tokens.
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All of this comes as executives representing these companies look for access to Trump himself and for a seat on the planned crypto advisory council, which is expected to be formed soon after Trump takes office.
Another interesting contributor is Boeing Co., which is donating $1 million, which matches the same amount that it gave when Trump first took office in 2017.
Trump and Vice President-elect JD Vance will be sworn in on January 20, 2025.
