Trump raised $274 million in political funds before the midterm elections, while Musk generously contributed to the cryptocurrency industry

ChainCatcher news, according to Bloomberg, Elon Musk and Jeff Yass, along with cryptocurrency industry donors, helped President Trump raise $236 million for his political operations in the first half of 2025, an unprecedented amount for a president seeking a second term. According to the latest filings with the Federal Election Commission (FEC), Trump's total fundraising includes donations to three leadership political action committees (PACs), a joint fundraising committee, and an allied super PAC, bringing his cash on hand to $274 million.

Cryptocurrency industry donors have been generous, with Foris DAX Inc., the parent company of trading platform Crypto.com, donating $10 million, and Blockchain.com Inc. donating $5 million. Venture capitalists Marc Andreessen and Ben Horowitz each donated $3 million, while billionaire twins Tyler Winklevoss and Cameron Winklevoss contributed just over $2 million combined. MAGA Inc. also received a $5 million donation from Trump's close ally Elon Musk. Musk's donation was completed on June 27, the same day he also donated $5 million each to two super PACs supporting Republican House and Senate candidates.