As the election approaches, former US President Trump is receiving a large amount of cryptocurrency donations.
On-chain crypto donations have reached nearly $60,000, not including contributions made through centralized exchanges such as 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 the donations are coming 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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They announced a $2 million donation in Bitcoin for Trump’s campaign, supporting his pro-crypto position. However, part of the twins’ donation was returned due to exceeding the allowable amount.
Trump’s campaign began accepting cryptocurrency donations in May, highlighting its support for the industry. This move comes amidst regulatory challenges and changes in Congress towards pro-crypto legislation as the elections approach.
