Virtual asset exchanges resume support for Trump camp ahead of US midterm elections
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Summary
- Major virtual asset exchanges have resumed political funding support for the Trump camp.
- Crypto.com and Gemini Trust Company reportedly provided a total of 21 million dollars in contributions.
- It was reported that past political support also led to actual policy changes, drawing investors' attention.
Ahead of the US midterm elections, major virtual asset exchanges have once again begun providing political funding to the Republican camp centered on President Donald Trump.
According to recent disclosure filings submitted to the US Federal Election Commission (FEC) and cited by Cointelegraph on the 6th (local time), the pro-Trump political fundraising group MAGA Inc. super PAC received a total of 21 million dollars in contributions from two virtual asset exchanges.
The contributing exchanges were Gemini Trust Company and Foris Dax, the parent company of Crypto.com, which contributed 1.5 million dollars and 20 million dollars, respectively.
In particular, Crypto.com has recently announced cooperation with Trump Media & Technology Group on financial strategy, among other moves, and has continuously expanded its points of contact with the Trump camp. This political donation is also seen as a strategic move aimed at anticipating changes in the policy environment rather than a short-term event.
Such political support from the virtual asset (cryptocurrency) industry was already prominent during the 2024 presidential race. At that time, Republican and Trump-related political committees received large sums of money from digital asset companies, and analysts say this led to tangible policy changes such as the replacement of heads of federal regulatory agencies, progress in stablecoin-related legislation, and discussions on legislation regarding the structure of the virtual asset market.
