Donald Trump Receives Over $26M in Crypto Donations In 7 Months

New campaign finance records have shown that the crypto industry has donated more than $26 million to support U.S. President Donald Trump this year. The donations were made to MAGA Inc., a political action committee that backs the country leader. These contributions come from some of the most well-known names in the crypto industry . This move reflects the growing relationship between President Trump and the crypto sector. Industry Leaders Back Trump’s Campaign According to a recent report, several major crypto companies and investors made large financial contributions to Trump’s 2024 presidential campaign. This financial support suggests that many in the industry believe the president will create an environment that allows digital assets to grow with fewer restrictions. Not surprising, since Trump returned to office this year, he has taken several actions in support of cryptocurrencies. Not too long ago, he signed the GENIUS Act into law , which is the first federal legislation that focuses on stablecoins. His administration is also working to pass the CLARITY Act, a proposed law that would create a clear legal framework for digital assets. The U.S. president has reaffirmed commitment to create a Strategic Bitcoin Reserve . He released a detailed report outlining policies to support open-source crypto projects and protect user privacy. These steps have been praised by many leaders in the digital finance space, who view them as signs of strong support for innovation. Critic Raises Concerns About Personal Interests However, Trump’s growing involvement in the crypto industry has raised concerns about possible conflicts of interest . Members of his family are involved in several crypto ventures. This includes stablecoins, memecoins, Non-Fungible Tokens (NFTs), and Bitcoin mining. Critics worry that the president could benefit personally from decisions made by his administration. This is especially if those decisions affect markets in which he or his relatives have investments. Some are also questioning Trump’s personal connection to digital assets, with reports saying a big part of his wealth is tied to crypto . His stake in Trump Media & Technology Group is estimated to be worth over $2 billion. Also, his broader crypto investments are believed to have gained over $600 million in recent months. Crypto Investments Within the Trump Administrative Cabinet The concerns do not stop with Trump alone. A number of officials and nominees in his administration also have significant investments in digital assets. Reports say that nearly 70 people in Trump’s administration have some kind of crypto investment, with amounts ranging from small sums to over $120 million. This group includes Vice President JD Vance and several top government officials. Some worry that these investments could influence policy decisions. Others think it sets a bad example by encouraging public officials to invest in risky assets. The post Donald Trump Receives Over $26M in Crypto Donations In 7 Months appeared first on TheCoinrise.com .

Source: The Coin Rise