Ripple CLO Stuart Alderoty Donates 624,000 XRP to Former U.S. President Donald Trump's Presidential Election Campaign

According to FOX Business journalist Eleanor Terrett, the Ripple CLO donated $300,000 worth of XRP to the Republican presidential candidate

Ripple’s Chief Legal Officer (CLO) Stuart Alderoty has donated 624,000 XRP, valued at approximately $300,000, to former U.S. President Donald Trump’s presidential election campaign, according to data from blockchain analytic platform Bread Crumb.

The donation, which was made on June 11, 2024, is being processed by Trump’s campaign team and will be used to support his bid for the presidency in the upcoming election, which is scheduled for November 5, 2024.

As Trump’s campaign began accepting crypto donations on May 21, 2024, the campaign has received over $4 million in BTC, ETH, XRP, and other cryptocurrencies, which were converted to USDC. Last month, Gemini founders Tyler and Cameron Winklevoss donated $1 million each in BTC, totaling $2 million to Trump. However, the campaign returned some of the funds to the brothers since it exceeded the maximum legal amount of $844,600.

Jesse Powell of Kraken crypto exchange also donated $1 million worth of ETH to support Trump’s presidential ambitions. Moreover, BitGo CEO Mike Belshe donated $50,000 in BTC, while Messari co-founder Ryan Selkis made a donation of $50,000 in USDC, according to a report from The Shib Daily. Other prominent crypto enthusiasts have also sent crypto donations to Trump ahead of the upcoming election.

This development comes amid Trump’s ongoing efforts to woo the crypto community and integrate himself into the Web3 space. The former U.S. president is set to attend and speak at the Bitcoin Conference in Miami on June 26, 2024, to further demonstrate his support for crypto.

Apparently, key figures within the crypto industry, such as Alderoty, seem to be responding positively to Trump’s overtures and initiatives, which could be impacting their decisions to donate to his presidential campaign.

Meanwhile, Biden and the Democratic Party have faced criticism from the crypto community for their handling of crypto regulations and policies. Several crypto stakeholders have expressed dissatisfaction with the Biden administration’s approach to digital assets, which they believe lacks clarity and is hindering the growth of the crypto industry in the United States.

As reported by Finbold on June 22, 2024, Trump stated that he will be putting an end to the Biden administration’s “war on crypto” if he is re-elected president of the United States. In an email to his supporters, Trump highlighted his support for Bitcoin and crypto, slamming the Biden administration for targeting the crypto industry.

According to the former U.S. president, the Biden administration is attempting to destroy Bitcoin and crypto through Gensler and Warren, who are targeting digital assets with new regulations and investigations. Trump asserted that he will protect Bitcoin and crypto from the “lunatics” in the Biden administration.

The above is the detailed content of Ripple CLO Stuart Alderoty Donates 624,000 XRP to Former U.S. President Donald Trump's Presidential Election Campaign. For more information, please follow other related articles on the PHP Chinese website!