Circle has committed $1 million to the inaugural committee of President-elect Donald Trump.
In a recent announcement, Circle CEO Jeremy Allaire highlighted the significance of the committee’s acceptance of USDC, demonstrating the increasing integration of digital currencies within mainstream finance.
“The Committee’s acceptance of USDC showcases the progress we have made,” stated Allaire, “as well as the immense potential of digital dollars.”
USDC is a stablecoin, a type of cryptocurrency designed to maintain a stable value by being pegged to traditional currencies like the U.S. dollar.
This donation aligns with a growing trend of cryptocurrency firms supporting the upcoming inauguration. Major exchanges have contributed similarly, with leading names stepping forward to back this historic event.
In the previous election cycle, notable figures like the Winklevoss twins each donated $1 million in Bitcoin to support Trump.
Trump’s Stance on Cryptocurrency
Trump’s recent praises for Bitcoin reflect a significant shift in his approach to digital assets. His administration is poised to leverage this interest to boost investment and promote the adoption of digital currencies as part of a comprehensive economic policy.
Last month, Trump addressed the Blockchain Association, reiterating his administration’s dedication to fostering blockchain innovation while acknowledging vital national security issues.
During his current campaign, Trump has openly endorsed cryptocurrency, signaling a transformation from his previous mixed opinions. He has even launched a fundraising initiative that accepts donations in various cryptocurrencies.
