A recent makeshift report highlights the inauguration week of President Donald Trump as the most extravagant in history, fed by 239 million dollars unprecedented by donors of donors and executives, including the main cryptographic players like Ripple Labs.
Pilgrim’s Pride exceeded donations at $ 5 million, followed by Ripple
Among the contributorsThe cryptocurrency sector has become an important force, channeling around $ 18 million to support Trump, presenting the robust support of the industry for its presidency.
Ripple Labs led the Crypto donation pack. The blockchain payment company would have contributed nearly $ 4.9 million, making it the second donor overall, just behind Pilgrim’s Pride, who donated $ 5 million.
The other notable contributors in the Crypto kingdom included Robinhood, online brokerage that generates substantial crypto trading income, which donated $ 2 million.
In addition, major exchanges such as JammingKraken and Crypto.com, as well as the Circle and the venture capital company paradigm, the venture capital firm of Stablecoin made a donation of $ 1 million, more solidifying the influence of the cryptographic industry in the political arena.
Trump’s crypto-friendly agenda
The political climate took a lively turn under President Joe Biden, whose administration was characterized by a complete repression on the cryptography industry.
The SEC has allegedly allegedly alleged that many cryptocurrencies are considered to be titles, subjecting them to strict regulatory requirements. This intensified examination prompted the leaders of cryptography to mobilize considerable resources, spending more than $ 130 million to influence the elections to the Congress and defend Pro-Crypto candidates.
On the other hand, the cryptography sector found a faithful ally in Trump, who proclaimed a “pro-Crypto president”. Notable industry figures, including Tyler and Cameron Winklevoss, co-founders of The Gemini Exchange, promised $ 1 million in the Trump re-election campaign.
The co -founder and president of Kraken, Jesse Powell, also contributed $ 1 million, reflecting the concerted effort of the industry to support a candidate perceived as favorable to their interests.
After Trump’s electoral victory, the administration adopted a friendly cryptographic approach. Trump called an “AI and Tsar Crypto”, initiated the creation of a strategic bitcoin and Digital asset reserveAnd has effectively decreased the capacity to apply the regulation of key agencies, including the SEC and the ComboDity Futures Trading Commission (CFTC).
In particular, the SEC has since abandoned prosecution against several donors to the inauguration fund of Trump, including important names like Coinbase, Crypto.com, Uniswap, Yuga Labs, Kraken and Ripple.
At the time of writing the editorial staff of Rippled Token XRP, is negotiated at $ 2,0835, key support for future cryptocurrency price movements after a sharp drop in $ 1.61 on April 7.
However, on a monthly basis, XRP is down by almost 13%, because Trump’s pricing policy has made a significant number on risk assets and broader cryptography prices.
Dall-e star image, tradingView.com graphic
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