Trump Campaign’s Crypto Donations Amounted to $3M of $331M Raised Last Quarter: WSJ

Former US President Donald Trump’s election campaign raised $3 million worth of crypto last quarter, most of it in Bitcoin {{BTC}} and Ether {{ETH}}, according to the Wall Street Journal.

Newly released campaign finance data shows that the Republican candidate’s embrace of crypto has helped him attract large donations from industry heavyweights like the Winklevoss twins (the Gemini exchange helps process the donations) and Kraken co-founder Jesse Powell.

According to the Journal, about 100 people donated cryptocurrency to his campaign between May and the end of June, highlighting a niche appeal. Many more people contributed to his campaign in more traditional ways, such as through credit cards. The Trump campaign raised $331 in the second quarter.

While relatively small in size, crypto donations have had a huge media impact in bolstering Trump’s crypto reputation, positioning himself as friendly to the industry and willing to make U.S. regulations more hospitable, which has helped turn some vocal supporters to his campaign.