A pro-Trump political action committee has secured approximately $7.5 million in cryptocurrency donations between July and September 2024. The contributions came in the form of major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), XRP, and the stablecoin USDC.

According to Federal Election Commission filings, the Trump 47 joint fundraising committee reported significant digital currency inflows during the three-month period. This positions Donald Trump as a leading pro-crypto candidate and marks a stark reversal from his previous skepticism towards digital assets during his presidency.

The FEC filing indicated that the crypto donations came from contributors across over 15 states, including key battleground regions and Puerto Rico. Notable donors included major crypto firms like Coinbase, Ripple, and venture capital firm Andreessen Horowitz.

Trump is making history as the first major presidential candidate to accept cryptocurrency donations. This aligns him with the growing crypto-enthusiast voter base and reflects the broader adoption of digital assets in political fundraising.

The shift in Trump’s stance on cryptocurrencies was influenced by key figures in the crypto space, including BTC Inc. CEO David Bailey and tech mogul Elon Musk. Their advocacy culminated in Trump’s appearance at a major Bitcoin conference, signaling his full endorsement of the crypto industry.

Trump’s opponent, Kamala Harris, has also embraced crypto donations. Ripple Chairman Chris Larsen contributed $1 million in XRP to Harris’ campaign via the Future Forward USA PAC.

The 2024 US Election is seeing unprecedented financial input from the crypto sector, with nearly half of all corporate contributions coming from this industry. A Public Citizen report highlighted that crypto industry contributions have increased about thirteen-fold compared to the previous presidential election cycle.

Trump’s increased crypto support has led to the launch of World Liberty Financial’s WLFI token public sale. Backed by Trump and his family, this initiative sold over 220 million WLFI tokens in its first twenty minutes, aiming for a $300 million fundraising goal to achieve a $1.5 billion valuation.