Circle CEO Jeremy Allaire recently announced a $1 million donation in USDC to Trump’s inaugural fund.
Several other high-profile figures from the crypto industry, including those from Crypto.com, Coinbase, Kraken, and Ripple, have also made substantial contributions.
The crypto industry’s engagement doesn’t end with donations.
Industry leaders are preparing for a role in the establishment of a planned crypto advisory council aimed at influencing policies related to digital assets.
To further solidify these relationships, the industry is hosting the “Inaugural Crypto Ball” in Washington on Jan. 17, where top players in the space will gather to engage with the new administration.
In addition to crypto executives, major tech companies are also showing their support for Trump’s inaugural committee.
Microsoft, Google, Adobe, Apple, Amazon, and Meta have each pledged $1 million, marking a significant display of bipartisan backing.
Microsoft, which has previously contributed $500,000 in 2017 and 2021, is once again showing its support for the incoming administration.
Other tech CEOs, such as Apple’s Tim Cook, have also followed suit with donations of their own.
While the flood of donations signals strong backing for Trump’s administration, experts warn that any significant changes to digital asset policy will require time to materialize.
Greg Cipolaro, Global Head of Research at NYDIG, notes that while there is optimism about what the new administration could mean for the crypto industry, the impact of Trump’s policies will likely take months, if not years, to fully develop.
For example, the proposed U.S. strategic Bitcoin reserve could be established through an Executive Order, but such a move would likely be less permanent than legislation like the BITCOIN Act, which would take far longer to pass.
Additionally, Trump’s appointments to key regulatory bodies like the SEC, CFTC, and FDIC are still pending confirmation, further delaying the implementation of policy changes.
Despite these hurdles, Cipolaro suggests that the new administration’s promises, such as a “Made in the USA Bitcoin,” remain speculative at best, with little to analyze at this stage.
It’s clear that Trump’s policies will have a gradual impact on the crypto space. The industry will be watching closely as key initiatives begin to take shape.