Circle CEO Jeremy Allaire confirmed a $1 million token donation to President-elect Donald Trump’s inaugural committee as part of a broader push by crypto industry leaders to gain influence in shaping U.S. crypto regulations.
Trump’s administration is expected to form a crypto advisory council, potentially comprising around two dozen CEOs and founders, to help steer digital asset policies. Candidates for the council reportedly include industry leaders who have existing ties with Trump, and many have visited him recently at his Mar-a-Lago estate to discuss regulations.
Prominent figures such as Crypto.com CEO Kris Marszalek, Ripple’s Brad Garlinghouse, and Coinbase CEO Brian Armstrong have met with Trump.
Several major crypto companies, including Coinbase, Kraken, and Ondo Finance, have also pledged $1 million each to Trump’s inaugural fund, while Ripple committed $5 million in XRP tokens.
The industry is hosting a Washington, D.C., event on January 17, dubbed the “Inaugural Crypto Ball,” with a $2,500 ticket price. Key sponsors include Coinbase, MetaMask, and Galaxy Digital.
David Bailey, CEO of BTC Inc. and a key advocate for Bitcoin, is rumored to be a contender for the advisory council. Bailey previously hosted a Bitcoin conference where Trump addressed the crypto community. His advocacy efforts may position him as a key figure in the administration’s crypto policy formation.
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