As the election approaches, former US President Trump is receiving a large number of cryptocurrency donations. On-chain donations in cryptocurrencies have reached nearly $60,000, not including contributions made through centralized exchanges like Coinbase.
According to blockchain analytics firm Breadcrumbs, Trump’s campaign has received $59,386 in on-chain crypto donations from 218 donors. Analyst James Delmore explained that many of these donations come through exchanges that are not considered on-chain transactions.
The majority of the donations are in USDC, sent through the Ethereum, Base, and Polygon networks. Trump’s campaign has raised a total of over $260 million, with traditional donations still leading.
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Casey Wood stated that Donald Trump is the best choice for the US economy. The Winklevoss twins announced a $2 million donation in Bitcoin to Trump’s campaign, supporting his pro-crypto stance. However, part of the twins’ donation was returned due to exceeding the permissible amount.
Trump’s campaign began accepting cryptocurrency donations in May, highlighting its support for the industry. This move comes amid regulatory challenges and a shift in Congress towards pro-crypto legislation with the approaching elections. 