With his inauguration closing in, Circle has donated $1 million in its USDC stablecoin to US President-elect Donald Trump’s inaugural fund. The CEO of the company, Jeremy Allaire, announced the donation in a post to X (formerly Twitter) while noting the importance of the committee’s willingness to accept a stablecoin donation.
Allaire and Circel are one of many within the tech sector who have donated to the incoming president ahead of his January 20th inauguration. To date, the US President-elect has received more than $170 million in donations, according to an ABC report.
JUST IN: Circle donates $1,000,000 $USDC to President-elect Trump’s inaugural fund.
— Watcher.Guru (@WatcherGuru) January 9, 2025
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Circle is the Latest to Donate to the Record Inagural Fund for Donald Trump
2025 was always set to be a historic year for cryptocurrencies. However, the optimism of its impending performance reached new heights in November of last year. Then, America elected what is the first pro-crypto president in history. Now, the industry is looking to continue supporting the return of Donald Trump and what that could mean for the asset class.
One of the most notable names in the industry has officially added to that support. Indeed, Circle has donated $1 million worth of its USDC stablecoin to Trump’s inaugural fund. Jeremy Allaire took to X to announce the move. Moreover, he discussed why it was an important action for the company to take.
Source: Fortune
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“We are excited to be building a great American company,” Allaire said. “And the fact that the Committee took payment in USDC is an indicator of how far we have come, and the potential and power of digital dollars.”
The US President-elect has reported raising a record $170 million in donations. A bulk of those funds have come from executives within tech. Indeed, the committee is projected to raise more than $200 million when all is said and done. According to sources, the money will be used for the inauguration event itself. Moreover, anything left over will be used for Trump’s future presidential library.
