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Crypto News - Posted on 14 January 2025 Reading time 5 minutes
DIGIVESTASI – Circle Donates USD 1 Million for the Inauguration of President-Elect Donald Trump. The company behind the USDC stablecoin, Circle, will donate USD 1 million to support the inauguration ceremony of the United States President-elect, Donald Trump. This move places Circle among a list of technology and cryptocurrency companies contributing to the event.
Currently, USDC ranks as the second-largest stablecoin in the market, with a market capitalization exceeding USD 45 billion. Donald Trump’s inauguration is scheduled for January 20, 2025.
Circle’s CEO, Jeremy Allaire, highlighted the relevance of using USDC as a form of contribution for the event. “We are proud to build a great American company, and the fact that the Inaugural Committee accepts payments in USDC reflects significant progress and the immense potential of the digital dollar,” Allaire stated, as quoted by Bitcoin.com on Friday, January 10, 2025.
In addition to Circle, several major tech companies have also contributed the same amount. Google and Microsoft recently announced their respective USD 1 million donations. Previously, Amazon and OpenAI had declared their support in December 2024.
Trump's inaugural committee has successfully raised over USD 170 million, setting a record for inauguration funding, surpassing similar achievements by Presidents Joe Biden and Barack Obama. For comparison, Biden received USD 63 million for his 2021 inauguration, while Obama’s inaugural committees raised USD 53 million in 2009 and USD 42 million in 2013.
These significant contributions not only demonstrate support from the tech and crypto sectors but also highlight a shift in how digital payments are increasingly accepted in large-scale official events.
Source: liputan6.com
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