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Circle Donates $1M in USDC to Trump's Inaugural Committee Amid Broader Crypto Support

Jan 9, 2025, 02:06 PM

Circle, a leading cryptocurrency firm, has donated $1 million in USDC, a stablecoin pegged to the U.S. dollar, to President-elect Donald Trump's inaugural committee. The donation, announced by Circle CEO Jeremy Allaire, underscores the growing adoption of digital currencies in mainstream finance. Allaire highlighted the committee's acceptance of USDC as a sign of the potential and power of digital dollars. This contribution is part of a broader trend of cryptocurrency companies supporting Trump's inauguration, with firms like Coinbase, Kraken, and Ripple, which pledged $5 million, also making significant contributions. Additionally, the Winklevoss twins each donated $1 million in Bitcoin during Trump's campaign. Trump's administration has expressed support for blockchain innovation and digital assets, signaling a shift in his stance on cryptocurrencies.