Ripple has reportedly pledged a $5 million donation to President-elect Donald Trump’s upcoming inauguration. With this notable move, Ripple continues to show it fully supports the upcoming crypto-friendly administration.
The news was reported on X by Cointelegraph and highlights the president-elect’s ongoing interest in the crypto space, which he demonstrated during his campaign.
Donald Trump’s Interest in Crypto
Trump’s acceptance of this contribution to XRP is notable for several reasons. It shows the growing acceptance of cryptocurrencies among mainstream political figures and signals potential shifts in U.S. regulatory policies under his administration.
Trump supported the crypto industry before accepting crypto donations for his campaign. Recently, he nominated Paul Atkins, a known pro-crypto individual, to replace outgoing U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler.
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His appointment signals a potential departure from the SEC’s historically cautious stance on digital assets under Gensler. The outgoing SEC chair faced significant criticism from the crypto community for what many perceived as overregulation and a lack of clear guidelines for the industry.
Industry leaders view Atkins’ appointment as a positive development that could pave the way for a more crypto-friendly regulatory environment. This leadership change at the SEC coincides with Trump’s inauguration on January 20, a day that could mark a turning point for the U.S. crypto industry.
There are also rumors that the president-elect plans to establish a strategic Bitcoin reserve for the U.S., fulfilling his promise of making the U.S. the crypto capital of the world.
Ripple’s Strategy
Ripple’s involvement also reflects its commitment to promoting the adoption and legitimacy of XRP. The company has been actively engaging with policymakers and regulators to shape the future of digital assets.
There are reports that Ripple CEO Brad Garlinghouse recently met with Trump, and this $5 million donation represents a large public endorsement of crypto in a political context.
Garlinghouse has been vocal about regulatory reform, advocating for a balanced approach that fosters innovation without stifling growth. The $5 million donation could be a statement of confidence in the incoming administration’s pro-crypto stance.
A Milestone for Crypto in Politics
The acceptance of cryptocurrency donations at this level marks a milestone for the industry, signaling increased political and institutional recognition of digital assets. Trump’s willingness to accept XRP reflects the growing role of cryptocurrencies in the global economy and their potential to influence policy.
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