Trump Super PAC Gets Millions in Donations From Crypto Industry
Several prominent figures with ties to the crypto industry, including Elon Musk have emerged as backers of a new pro-Trump super political-action committee, dubbed America PAC.
This comes as the crypto community kicked off a fresh wave of political support for Trump following an assassination attempt on Saturday .
Established in June, America PAC is dedicated to voter registration and encouraging early voting and mail-in ballot requests in key swing states.
As of June 30, Federal Election Commission records show that the PAC has garnered $8.75 million in donations across 18 entities, not all of which are linked to the crypto industry.
Most significantly, Elon Musk has shown outbound support, planning to commit around $45 million a month to the PAC, according to a Wall Street Journal report, citing sources familiar with the matter.
I fully endorse President Trump and hope for his rapid recovery pic.twitter.com/ZdxkF63EqF
— Elon Musk (@elonmusk) July 13, 2024
As per FEC records, the Founders of the crypto exchange Gemini, Tyler, and Cameron Winklevoss have donated $250,000 to the PAC each. This follows a previous donation of $2 million they made to Trump’s campaign last month.
Joe Lonsdale, co-founder of Palantir Technologies, was also named in the report, having contributed $1 million. Lionsdale has previously advocated for Crypto and its applications to Artificial intelligence .
Meanwhile, Kenneth Howery, co-founder of the venture capital firm Founders Fund, which focuses on emerging technologies, including blockchain, contributed $1 million to the PAC through multiple donations.
Crypto industry donors have contributed a record $91 million to federal political committees since 2023, exceeding the $83 million
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