Here’s How Much Donald Trump Collected From Crypto Donations
Former US President Donald Trump continues to collect crypto donations ahead of the upcoming elections. On-chain crypto donations stand at around $60,000, while other sources are growing rapidly. These on-chain donations do not include donations made through centralized crypto exchanges like Coinbase.
Donald Trump’s On-Chain Crypto Donations Halt
According to data from the Blockchain analysis company, BreadcrumbsOn-chain crypto donations to Donald Trump’s campaign are worth $59,386. Approximately 218 donors withdrew this amount as inflows from other sources increased. James Delmore, data analyst at Breadcrumbs, noted that on-chain donations are not easy, leading to a large number of inflows from crypto exchanges that are not considered on-chain donations.
Donations received so far are being sent via Ethereum, Base and Polygon, and the accepted cryptocurrency is USDC. A breakdown of funds shows approximately $27,500 from Polygon, $20,000 from Ethereum and $11,300 from Base. Meanwhile, Trump’s campaign has raised over $260 million, including crypto donations. Traditional donations have overtaken digital assets, but many see this as a big step towards mainstream crypto adoption.
In a related development, the Winklevoss twins announced a $2 million Bitcoin donation to Donald Trump, adding that they would support the former President for his pro-industry stance.
Crypto is Becoming a Widespread Issue
Trump’s His campaign announced in May that crypto donations were being accepted, sparking a frenzy after positioning himself as a pro-crypto candidate. The US crypto regulatory arena has seen a plethora of lawsuits against firms over the past few years with little regulatory clarity.
However, a major change was seen in the months leading up to the elections. Congress with initiatives towards pro-crypto legislation.
So read: Peter Schiff Warns Hedge Funds to Exit Bitcoin and Short MicroStrategy
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David is a financial news writer with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has a talent for keeping up with breaking news. Staying on top of trends, David is knowledgeable about regulations, partnerships, crypto assets, stocks, NFTs, etc. He reported in various fields such as. Away from the financial markets, David cycles and rides horses.
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