BlockBeats news: On February 3, the Financial Times of the UK revealed that U.S. President Trump and his allies raised $429 million in political donations over the past year for the midterm elections, setting a new record for fundraising in an election year. A significant portion of the funds came from the cryptocurrency and artificial intelligence industries, reflecting strong investment bets on his policy orientation.
The super PAC "Make America Great Again" (MAGA Inc), controlled by Trump allies, currently holds $304 million, surpassing the fundraising totals of any PAC in midterm election years in history. Reports indicate that the Trump administration's friendly stance toward the cryptocurrency industry—such as regulatory easing, ending investigations, and supporting legislation—has been a key factor in attracting large donations.
The largest single donation disclosed so far comes from Crypto.com, which donated $30 million to Maga Inc. An investigation by the U.S. Securities and Exchange Commission (SEC) under the Biden administration into the company was concluded in 2025. Marc Andreessen and Ben Horowitz, co-founders of the venture capital giant a16z, each donated $3 million. Greg Brockman, a co-founder of OpenAI, and his wife together donated $25 million.
Analyses indicate that as the midterm elections approach, cryptocurrency capital is increasing its influence over regulatory and policy directions through political donations. Trump remains the central figure within the Republican camp in attracting cryptocurrency funding.