According to Cointelegraph, two major cryptocurrency exchanges have donated over $21 million to a political action committee (PAC) supporting U.S. President Donald Trump. Documents disclosed by the U.S. Federal Election Commission on Friday revealed that the MAGA Inc. Super PAC received 1.5 million USDC from Gemini Trust Company, as well as two $10 million donations from Foris Dax, the parent company of the cryptocurrency exchange Crypto.com. Since 2025, Crypto.com has established deeper partnerships with Trump's media company. These funds will be used to support candidates aligned with Trump's ideology in the 2026 U.S. midterm elections, during which 435 seats in the U.S. House of Representatives and 33 seats in the Senate will be up for re-election.
Trump's PAC Receives Over $21M in Donations from Gemini and Crypto.com
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Summary
On-chain news reveals that Trump's MAGA Inc. Super PAC has received over $21 million in donations from Gemini and Crypto.com. The U.S. Federal Election Commission disclosed on Friday that Gemini contributed 1.5 million USDC, while Crypto.com's parent company, Foris Dax, made two $10 million donations. Crypto.com has deepened its partnership with Trump's media company since 2025. The funds will support candidates aligned with Trump in the 2026 midterms, where 435 House seats and 33 Senate seats are up for grabs. This development adds to the growing attention in the crypto news sector on political spending.
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