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A newly formed super political action committee (PAC) supporting Donald Trump’s presidential bid has attracted significant backing from prominent figures in the cryptocurrency industry.
America PAC, established in June, has already amassed $8.75 million in donations as of June 30, according to Federal Election Commission (FEC) records. The PAC aims to focus on voter registration and promoting early and mail-in voting in crucial swing states.
Among the notable contributors are Gemini exchange founders Tyler and Cameron Winklevoss, who each donated $250,000 to America PAC. This follows their recent Bitcoin donation to Trump’s campaign, signaling strong support from the crypto community.
Elon Musk, CEO of Tesla — a company known for its Bitcoin (BTC) holdings — is reportedly planning to contribute around $45 million monthly to the PAC, according to sources cited by the Wall Street Journal. However, FEC records as of June 30 do not yet reflect Musk’s donations. Musk has also denied the claim.
The PAC has also received substantial contributions from other influential figures in the crypto and tech industries. Joe Lonsdale, co-founder of Palantir Technologies, donated $1 million.
Sequoia Capital partners Douglas Leone and Shaun Maguire contributed $1 million and $500,000 respectively. Kenneth Howery, co-founder of Founders Fund, which focuses on emerging technologies including blockchain, made multiple donations totaling $1 million.
Trump poses as the pro-crypto candidate
This surge in support from crypto-affiliated backers aligns with Trump’s recent crypto-friendly stance. The former president has been actively courting crypto holders, accepting cryptocurrency donations for his campaign and expressing support for Bitcoin miners.
GOP organization Republican National Committee has also recently unveiled a new platform that strongly supports crypto innovation. The document outlines the party’s priorities heading into the November election, with presumptive presidential nominee Donald Trump and Republican congressional candidates at the forefront:
Republicans will end Democrats’ unlawful and unAmerican Crypto crackdown and oppose the creation of a Central Bank Digital Currency. […] We will defend the right to mine Bitcoin, and ensure every American has the right to self-custody of their Digital Assets, and transact free from Government Surveillance and Control.
