Cryptocurrency companies and executives donated a total of $18 million to President Trump's inauguration fund

ChainCatcher news, according to Fortune magazine, U.S. Federal Election Commission documents show that President Donald Trump hosted the most extravagant inauguration in history, thanks to a record-breaking $239 million in donations from corporate supporters and executives. A significant portion of this funding came from the cryptocurrency industry, which has been one of Trump's most active supporters: cryptocurrency companies and their executives donated $18 million to the inauguration of the 47th President of the United States.

Among all donors, one of the world's largest poultry producers, Pilgrim's, topped the list with a $5 million donation, followed by Ripple Labs with nearly $4.9 million. Ripple has been engaged in a long-standing lawsuit with the U.S. Securities and Exchange Commission (SEC).

Online brokerage Robinhood, which derives a significant portion of its revenue from cryptocurrency trading, donated $2 million. Other major donors included some top companies in the industry, such as trading platforms Coinbase, Kraken, and Crypto.com; stablecoin issuer Circle (which has recently applied for an IPO); and venture capital giant Paradigm, which is approaching historical highs in assets under management in 2024—both of the latter donated $1 million.