The Democrats Take Congress: Which Coins Are Republican, and Which Are Democratic?

Just after the Democrats won control of both the U.S. House and Senate, Jensen Huang’s affair was exposed.
What’s even more intriguing is that Trump had received intelligence briefings involving Jensen Huang long ago, yet he did nothing and chose to turn a blind eye. Now that both chambers of Congress are about to change hands, the political protection that once existed by tacit agreement is gone, and Huang will inevitably face intense scrutiny from the Democrats.
Many people have therefore speculated: Did Jensen Huang deliberately come forward and settle the matter before the Republicans handed over power, trying to contain the controversy before the Democrats formally took office?
Meanwhile, the Democrats’ counterattack was already bearing down on Trump himself. Robert Garcia, expected to take over as chair of the House Oversight Committee, publicly urged him to “LAWYER UP” and made clear that the investigation would focus on the Trump family’s cryptocurrency income and other business interests.
Now that the Democrats have retaken Congress, the Trump family’s crypto businesses are about to face renewed political scrutiny. So which tokens are directly tied to the Republicans? And which projects have Democratic political donors behind them?
🌟 Republican camp: The Trump family gets directly into token issuance
Unlike traditional political donations, the Trump family has long been directly involved in the crypto business.
In June 2026, Reuters published an in-depth investigation into the Trump family’s crypto businesses. Based on estimates from on-chain transactions, financial disclosures, and corporate filings, the Trump family has earned about $2.3 billion in total from four major crypto businesses since returning to the White House.
1. TRUMP: The president launches his own token, turning political influence directly into cash
On January 17, 2025, three days before his inauguration, Trump launched TRUMP, with a total supply of 1 billion tokens. Eighty percent was allocated to Trump-affiliated companies and project insiders.
According to Reuters’ investigation, the TRUMP project generated about $1.2 billion in token sales, of which around $616 million went to the Trump family.
2. CRO: Tens of millions bet on Trump, followed by deregulation and business deals
http://Crypto.com is a typical example. According to an October 2026 investigation by Public Citizen, its affiliated companies donated a total of about $37 million to MAGA Inc. and Keep America Great, two pro-Trump super PACs.
In March 2025, the SEC ended its investigation into http://Crypto.com. That same year, http://Crypto.com also struck a deal with Trump Media Group to establish a publicly traded company holding CRO tokens.
3. ONDO: Ondo Finance’s political donations and regulatory investigation
Public records show that Ondo donated $1 million to Trump’s inaugural fund and about $2.1 million to MAGA Inc., which supports Trump, for a total of roughly $3.1 million.
In February 2025, Ondo announced a strategic partnership with World Liberty Financial, a Trump family venture. In December of that year, the SEC formally ended its multiyear investigation into Ondo without bringing any charges.
4. DOGE: Musk’s meme coin, whose name was even used by a Trump administration department
DOGE has long been associated with Musk. He has repeatedly publicly endorsed Dogecoin and invested a substantial amount of money in support of Trump during the 2024 election.
After Trump won, he announced the creation of the “Department of Government Efficiency,” co-led by Musk. Its abbreviation, DOGE, happens to be the same as Dogecoin’s name. The initiative also used a Shiba Inu image, further reinforcing the connection between the two.
5. PNUT: The squirrel coin that became a Republican campaign symbol
Just before the 2024 U.S. presidential election, New York State authorities seized the internet-famous squirrel Peanut and euthanized it over rabies prevention concerns, sparking public controversy.
Trump, Vance, and Musk then seized on the incident to criticize government overreach, and Musk even publicly urged people to vote for Peanut. The incident quickly became a Republican campaign talking point, and PNUT, a Solana-based meme coin, surged in popularity and then soared in price after Trump’s victory.
7. SOL: A company writes a check to Trump’s inaugural fund, then the president names it to the “reserve list”
On January 8, 2025, Solana Labs donated $1 million to the Trump–Vance Presidential Inaugural Committee. The donation later appeared in the committee’s FEC filings, released in April.
A few days later, Trump and Melania each launched an official meme coin, TRUMP and MELANIA, and both chose to issue them on Solana.
The policy narrative was then reinforced further. On March 2, 2025, Trump named XRP, SOL, and ADA on Truth Social, adding that BTC and ETH would also become part of the U.S. crypto reserve.
🌟 Democratic camp: From personal donors to policy lobbying, crypto giants are also betting big
The Republican Party has the Trump family personally doing business, and the Democrats have no shortage of crypto benefactors either. From multimillion-dollar personal donations to political lobbying by industry giants, crypto capital has long been deeply embedded in the Democrats’ political funding network.
1. XRP: Ripple co-founder once donated tens of millions to support Harris
During the 2024 U.S. presidential election, Ripple co-founder Chris Larsen donated more than $11 million to a political action committee supporting Democratic candidate Kamala Harris, with a large portion of the donations made directly in XRP.
But Ripple didn’t bet exclusively on the Democrats. In the 2025–2026 election cycle, Ripple donated $48 million to Fairshake, a crypto industry political action committee, and also contributed about $4.89 million to Trump’s presidential inaugural fund.
2. UNI: Uniswap Labs also put millions into political funding
According to Federal Election Commission records, Uniswap Labs donated about $1 million to Fairshake in 2025 through its subsidiary, Universal Navigation.
The funds didn’t go directly into the accounts of Democratic candidates, but instead went to a political action committee that supports candidates from both parties.
3. PEPE: The frog meme that was repoliticized
During Trump’s 2016 campaign, Pepe the Frog was widely used by the American alt-right and at one point became an online symbol of Trump supporters.
Later, the original creator launched the “Save Pepe” campaign in an attempt to reclaim the character. And after right-wing commentator Alex Jones once claimed that “chemicals turn frogs gay,” internet users placed PEPE in the Democratic camp, joking that the Republican frog had ultimately been “rainbow-washed.”
4. FTT: SBF was once one of the Democrats’ biggest crypto donors
FTX founder SBF was once a major political donor to the Democrats. During the 2022 U.S. midterm elections, he donated about $40 million to political organizations, most of which went to the Democratic camp, making him for a time one of the Democrats’ largest individual donors.
Nishad Singh, a former engineering executive at FTX, also donated more than $13 million to organizations affiliated with the Democrats.
FTX went bankrupt in November 2022. SBF was later convicted of fraud and sentenced, and FTT collapsed along with it.
5. WLD: The crypto project of longtime Democratic donor Sam Altman
Worldcoin was co-founded by Sam Altman, Alex Blania, and others, and WLD is its ecosystem token.
During the 2024 U.S. election cycle, Sam Altman donated $200,000 to the Biden Victory Fund. The fund is a joint fundraising committee for Biden’s campaign, the Democratic National Committee, and state Democratic organizations.
Altman has also long donated to numerous Democratic candidates and progressive political organizations, so the market has also come to view WLD as a Democratic token.
6. LINK: Democratic tech donor Eric Schmidt once served as a Chainlink adviser
In 2021, Chainlink Labs announced that former Google CEO Eric Schmidt had joined the team as a strategic adviser. Schmidt has long supported the Democrats and has been involved in Obama’s campaigns and government technology advisory work.
During the 2024 election cycle, he donated about $413,000 to the Biden Victory Fund. The Associated Press reported that his donations to Biden and related Democratic fundraising organizations totaled more than $500,000.
🌟 Final thoughts
The scandal surrounding Jensen Huang’s affair landed like a sledgehammer on the seemingly invincible tech pedestal, prompting the market to take another look at the valuation bubble behind the AI frenzy.
An even bigger domino has fallen in Washington. The Democrats’ return to power in Congress means the enormous profits the Trump family has amassed through meme coins and DeFi are about to face subpoenas, hearings, and compliance reviews.
At this moment of sweeping political change, two once-glorious frenzies are simultaneously approaching their reckoning.