(Donald Trump reacts at the 2024 Bitcoin conference in Nashville, Tennessee.)

Big crypto is joining big tech and many other American businesses in donating millions to President-elect Trump’s inauguration celebrations, FOX Business has learned.

Cryptocurrency exchanges Coinbase and Kraken each donated $1 million to the Trump-Vance inaugural committee, the organization funding the three-day extravaganza of galas, parades and celebratory dinners. donald trump and the landslide victory of his Vice President-elect JD Vance in November choicewhich take place the days before and after his swearing in on January 20.

Blockchain payments company Ripple will also make a $5 million contribution to the crypto token XRP, the digital asset it uses to facilitate its cross-border payments business.

All three companies confirmed the donations to FOX Business, and Coinbase said it was one of the first crypto companies to contribute to the fund.

“Coinbase is committed to working with the Administration and both sides of the aisle to create regulatory clarity for crypto, and it’s important to get involved early in order to get off the ground,” said US Vice President of Policy of the company, Kara Calvert, in a statement. FOX business. “That’s why Coinbase committed to supporting President Trump’s transition and ultimately his inauguration well in advance of the election. We look forward to working with the most pro-crypto Administration in US history as let’s build the future of crypto in America.”

Another crypto outfit, MoonPay, a digital asset payment provider, told FOX Business it will also donate to the fund, but declined to disclose an exact amount.

No news of crypto donations has been reported yet.

The contributions represent a small fraction of the record $200 million already pledged to the inaugural committee from corporate and individual donors, surpassing the previous record of $107 million raised by Trump’s first inaugural committee in 2017 and surpassing the $62 million of dollars raised by Biden’s committee in 2017. 2021. A Trump-Vance inaugural committee source tells FOX Business that they are sure can reach 225 million dollars on opening day.

Former US President Donald Trump, right, and Senator JD Vance, Republican of Ohio and Republican vice presidential candidate, stand together during a campaign event at the Van Andel Arena in Grand Rapids, Michigan, USA, on Saturday, July 20, 2024. Trump (Photo: Emily Elconin/Bloomberg via Getty Images/Getty Images)

The contributions from the crypto elite, many of which are giving to a presidential inaugural fund for the first time, reflect the industry’s enthusiasm for Trump, who has promised a lighter regulatory touch than his predecessor Joe Biden. The industry spent more than $200 million this election cycle, which included major contributions from Ripple, Coinbase and venture capital firm Andreessen Horowitz. Executives including Kraken founder Jesse Powell and Andreessen Horowitz co-founders Marc Andreessen and Ben Horowitz were among Trump’s top individual donors.

A press representative for Andreessen Horowitz did not respond to requests for comment on whether the company plans to donate to the inaugural fund.

“Innovation in crypto seems to be as big, if not bigger, than the revolutions in software and the Internet,” Kraken co-CEO Arjun Sethi told FOX Business. “For the first time, we have a president who truly understands the potential of disruptive technology and who embraces the crypto sector. We are excited to continue working with President-elect Trump and his administration to advance regulatory clarity and unlock long overdue wave of innovation”.

Since being elected on November 5, Trump has already fulfilled some of his promises to support the digital asset industry, including nominating crypto-friendly Paul Atkins as the next chairman of the Stock Exchange and Securities Commission. It also named David Sacks as the first crypto and AI “czar,” a role in which Sacks will bridge the industry and regulators by working closely with them on policy initiatives, while also leading the Presidential Council of ‘Advisors for Science and Technology. .

“With trusted and knowledgeable crypto advocates like Paul Atkins and David Sacks appointed to the Trump Administration, the future of the crypto industry looks nothing but promising,” Ripple CEO Brad Garlinghouse said in a statement to FOX Business. “I am optimistic that we can finally overcome the failed war on crypto Elizabeth WarrenSEC Chairman Gary Gensler will step down on January 20, 2025, the same day as the inauguration ceremony.

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Patomak Global Partners LLC CEO Paul Atkins participates in a strategic CEO and policy discussion with President Donald Trump at the Eisenhower Executive Office Building in Washington on April 11, 2017 . (REUTERS/Joshua Roberts/File Photo/Reuters Photos)

Trump has also filled his cabinet with crypto-friendly options, such as his Treasury Secretary nominee Scott Bessent, who has been an advocate for the transformative potential of crypto and blockchain technology, and Commerce Secretary nominee Howard Lutnick, CEO of financial giant Cantor Fitzgerald. in whom he is personally very invested bitcoin.

In addition to crypto, big tech and its executives are also pouring cash into Trump’s inaugural fund, including Amazon founder Jeff Bezos, Facebook‘s Mark Zuckerberg, Uber CEO Dara Khosrowshahi and OpenAI’s Sam Altman. Each gave $1 million to the fund. In addition, Bezos and Zuckerberg are among the tech CEOs who have met with Trump in recent days at Mar-a-Lago.

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Vlad Tenev, CEO of trading platform Robinhood, said earlier this week FOX business the company plans to donate $2 million to the inaugural committee.

The donations and one-on-ones with Trump represent a dramatic shift in tone for tech executives, many of whom had been outspoken critics of Trump before his re-election, as they seek to mend fences with their de facto regulator.