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A pro-Trump political group, “Trump 47,” raised $7.5 million in cryptocurrency between July and September for Donald Trump’s presidential campaign. The funds came from major figures in the crypto space, contributing largely in Bitcoin and Ether. Meanwhile, other prominent individuals in the cryptocurrency world have also donated to a different super PAC supporting Trump, as well as rival group for Kamala Harris. A watchdog group noted that half of all corporate campaign contributions are from the cryptocurrency industry, with crypto donations being 13 times higher than the previous election.

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So, a political group supporting Donald Trump has managed to raise a whopping $7.5 million in digital money, all for his run for US president. The group is known as “Trump 47” and between July and September they raked in a lot of BitCoin, Ether, XRP, Tether, and USD Coin.

Most of the money came from folks who are big names in the crypto scene. 18 of them dished out more than $5.5 million in BitCoin and another seven handed over around $1.5 million in Ether.

Some of the top donors included David Bailey, the CEO of a BitCoin media group who gave $498,000, Stuart Alderoty from Ripple who handed over $300,000 in XRP, and the guys who founded the Gemini crypto exchange, Tyler and Cameron Winklevoss, who each gave $1.1 million.

The group wasn’t the only one getting love from the crypto world. Sandwich founders Marc Andreessen and Ben Horowitz also each coughed up $2.5 million to a different super PAC that supports Trump, known as “Right For America.”

The rival group of Trump, Kamala Harris, also saw some support from the crypto society including Ripple co-founder Chris Larsen who donated $1 million in XRP.

A non-profit watchdog group noted that around half of all corporate money being out into election campaigns is from the cryptocurrency industry. In fact, the report mentioned that the crypto industry’s contributions to this election are 13 times more than what it gave last time!

One of the biggest super PACs known as Fairshake, which is from the crypto sector, has raised over $200 million so far. They’ve used around $7 million for media buys and producing stuff to support candidates, and they’ve also put more than $2 million into opposing Democrat incumbents.

Source: Cointelegraph