Crypto Firms Back Trump: Circle Donates 1M USDC

• Circle donates 1 million USDC to Trump’s inaugural committee, showcasing stablecoin acceptance in mainstream politics.
• Circle and Binance collaborate to expand USDC use in trading, savings, and payments, advancing stablecoin adoption.

Circle, the famous issuer of the USDC stablecoin, made news by donating 1 million USDC to President-elect Donald Trump’s inaugural committee. Circle CEO Jeremy Allaire made the statement and underlined the business’s excitement about creating a “great American company” as well as the symbolic relevance of the first committee’s approval of USDC.

This action highlights the expanding validity and potential of digital currencies in many domains as they indicate their growing incorporation into mainstream political and financial events.

@circle has contributed 1M USDC to President Trump’s Inaugural Committee.  We are excited to be building
a great American company, 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.

— Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) January 9, 2025

Circle and Crypto Firms Boost Political Engagement 

Especially, Circle’s involvement fits a bigger trend whereby crypto companies are interacting with Trump’s future government openly. For XRP tokens, Ripple has promised a sizable payment of $5 million; big exchanges like Coinbase and Kraken have contributed $1 million apiece.

These gifts highlight the expectation of the crypto sector about laws that might help and encourage industry innovation even more. With apparently raised over $200 million and maybe approaching $225 million by Inauguration Day, Trump’s inaugural committee boasts overwhelming financial support.

Furthermore, this flood of donations from crypto companies marks a major change in the way digital currencies are seen and used.

Particularly as more companies and institutions start to investigate their practical uses, the increasing appearance of stablecoins like USDC in high-profile events shows its expanding function as a reasonable medium of exchange.

On the other hand, CNF previously reported that Circle and Binance formed a strategic alliance meant to increase the usage of stablecoins. This cooperation is supposed to improve the acceptance of USDC across several uses, including payments, savings, and trading.