Trump Campaign Surges with $3 Million in Crypto Donations in Q2 2024
Donald Trump's reelection campaign has received approximately $3 million in digital assets contributed since the former president announced he would accept such donations. According to a Federal Election Commission (FEC) filing for the second quarter of 2024, the Trump 47 Committee received these crypto contributions from around 20 individuals starting in May. The FEC filing did not cover contributions from July or crypto donations to other committees.
Among the most significant donors were Gemini co-founders Cameron and Tyler Winklevoss, who pledged a combined $2 million in Bitcoin on June 20. Kraken co-founder Jesse Powell committed $1 million in Ether on June 28. FEC records show Powell's contribution exceeded $844,000, while the Trump campaign had to partially refund the Winklevoss twins' Bitcoin donation due to contribution limits, which cap individual donations at $844,600.
Ryan Selkis, the former CEO of Messari, who resigned on July 19 after making controversial statements on social media, contributed $50,000 in USDC. Ripple’s chief legal officer, Stuart Alderoty, donated $300,000 in XRP. Despite Alderoty’s significant contribution, his social media activity has not indicated support for Trump, though he has been a vocal critic of the Securities and Exchange Commission and its chair, Gary Gensler, under the Biden administration.
The Trump 47 Committee reported raising over $118 million in both cryptocurrency and fiat for the second quarter, contributing to a total of more than $142 million for 2024. While there were rumors that President Joe Biden might accept crypto donations for his reelection campaign, he announced on July 21 that he would not seek another term, instead endorsing Vice President Kamala Harris. Following Biden’s announcement, Harris, now the presumptive Democratic nominee, reportedly raised over $100 million in just 24 hours.
Since surviving an assassination attempt at a Pennsylvania rally on July 13, Trump has secured his official nomination at the Republican National Convention. He is also scheduled to speak at the Bitcoin Conference in Nashville on July 27.
