Crypto executives jockey for seats on Trump’s incoming advisory council

Crypto executives have either pledged donations, made contributions, or held meetings with Trump in hopes of securing positions on the incoming crypto advisory council.

The crypto advisory council is anticipated to be established after Trump assumes office, and with his inauguration just under two weeks away, crypto executives are hastily making contributions to the inaugural committee.

Multiple crypto CEOs have pledged tokens to the inaugural committee

Securing a position on the proposed crypto council has become a top priority for many industry leaders eager to shape the new administration’s policies on digital assets. With the council expected to include around two dozen CEOs and founders, executives are rushing to curry favor with President-elect Donald Trump.

Circle’s CEO, Jeremy Allaire, has already donated $1 million USDC tokens to Donald Trump’s inaugural committee.

In an X post on January 9, he commented:

Circle has contributed 1M USDC to President Trump’s Inaugural Committee.  We are excited to be building
a great American company, and the fact that the Committee took payment in USDC is an indicator of how far we have come, and the potential and power of digital dollars.

— Jeremy Allaire – jerallaire.arc (@jerallaire) January 9, 2025

Moreover, in December, Crypto.com CEO Kris Marszalek met with Trump at the Florida golf resort, Mar-a-Lago. Sources say they talked about crypto appointments in financial departments, Congress, and the incoming administration and even discussed the national Bitcoin reserve. 

Coinbase, the largest crypto exchange in the US, has also promised to give $1 million to the inaugural committee. Its CEO, Brian Armstrong, has been actively in talks with Trump over the past few weeks.

Kraken and startup Ondo also pledged $1 million each to the president-elect’s inaugural committee, while Ripple announced its plan to contribute $5 million worth of XRP tokens in December. 

The crypto industry supports Trump’s new administration

The crypto industry will host an event just before Trump’s inauguration to show support for the new government.  The “Inaugural Crypto Ball” will be held on January 17, and attendees will be required to pay $2500 for a ticket.

The ball will be sponsored by David Bailey’s BTC Inc., the Coinbase-backed advocacy group Stand with Crypto, Anchorage Digital, Bitcoin wallet developer Exodus, and Kraken. Additional sponsors include Coinbase, Ondo, MetaMask, and asset manager Galaxy.