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Crypto Firms Back Trump: Circle Donates 1M USDC
In a shocking move, Circle, the issuer of the popular USDC stablecoin, has donated $1 million in USDC to President-elect Donald Trump’s inaugural committee. This development highlights the growing acceptance and influence of digital currencies in mainstream politics.
Circle CEO Jeremy Allaire made a statement regarding this donation, emphasizing the company’s excitement about creating a “great American company” and underlining the symbolic importance of the first committee’s approval of USDC. This act underscores the expanding validity and potential of digital currencies in various sectors as they increasingly become a part of mainstream political and financial events.
The contribution to Trump’s inaugural committee comes at a time when several other crypto firms are also engaging with the future government openly. XRP tokens, issued by Ripple, have promised a substantial donation of $5 million, while exchanges like Coinbase and Kraken have contributed $1 million each. These contributions demonstrate the industry’s anticipation regarding legislation that may foster innovation and growth.
Notably, Trump’s inaugural committee has reportedly raised over $200 million, with some sources suggesting they could reach as much as $225 million by Inauguration Day. The influx of donations from crypto companies marks a significant shift in how digital currencies are perceived and utilized. As more institutions explore their practical applications, the increasing presence of stablecoins like USDC in high-profile events showcases its expanding role as a viable medium of exchange.
In related news, Circle has also partnered with Binance to enhance the usage of USDC across various platforms, including payments, savings, and trading. This strategic alliance aims to increase the acceptance of USDC by promoting its utility and versatility.
Source: www.crypto-news-flash.com
