Industry donation parade for White House ballroom construction… Coinbase, Ripple, etc. participate

Ripple(Ripple), Coinbase(Coinbase), Tether(Tether) and other major virtual asset (cryptocurrency) firms, and Gemini(Gemini) co‑founders Cameron and Tyler Winklevoss, are reported to have donated to President Donald Trump's new White House ballroom construction.

On the 24th (local time), The Block reported that major virtual asset firms were included on the list of sponsors for the Trump administration's 'White House Ballroom' project. In addition, large technology companies such as Apple, Google, Microsoft, and Comcast were also reported to be listed.

The White House officially announced the ballroom construction plan in July. The total area is approximately 90,000 square feet (about 8,360㎡), and it is a space that can accommodate more than 650 people. Construction began in September, and the total cost is estimated at about $300 million. President Trump described the project as "a visionary building that will symbolize America's cultural renaissance," but some criticized the process of demolishing the East Wing and pursuing it with private funds.

The White House rebutted, saying, "The left and fake news forces are distorting the president's visionary project," and, "this ballroom is a historic undertaking being carried out entirely with private donations."

The virtual asset industry is also regarded as having supported Trump's election by injecting large amounts of political funding in the 2024 U.S. presidential election. The political funding group 'Fairshake(Fairshake)', supported by Ripple and Coinbase, raised more than $200 million during the last election cycle to support candidates in key battleground areas.