Major cryptocurrency firms, including Ripple (XRP), Coinbase, and Tether (USDT), along with Gemini co-founders Cameron and Tyler Winklevoss, reportedly contributed to the construction of a new White House ballroom under the Trump administration.
These prominent cryptocurrency companies were listed as sponsors for the Trump administration's "White House Ballroom" project, according to The Block.
Other significant donors to the initiative include major corporations such as Amazon, Apple, Google, Meta, and Microsoft.
Project Details and Funding
President Donald Trump officially announced the plans for the White House ballroom construction in July. At the time of the announcement, it was stated that the project, which encompassed the renovation of the White House East Wing, would be financed through private donations, not taxpayer funds.
Construction for the ballroom, designed to cover approximately 8,360 square meters and accommodate over 650 individuals, commenced in September. The estimated total cost for the project is around $300 million.
President Trump characterized the undertaking as "a visionary building that will symbolize America's cultural renaissance." He further emphasized, "This ballroom is a historic endeavor funded entirely by private donations."
Past Cryptocurrency Industry Support for Trump
The cryptocurrency sector has seen substantial engagement with political donations to Donald Trump over the past year. In August, Tyler and Cameron Winklevoss made a donation of 18 Bitcoin to a pro-Trump political action committee.
Earlier in January, influential figures and companies from the industry, including Circle, Ripple, and Coinbase, contributed to Trump's inaugural committee. The cryptocurrency sector also played a role in supporting Trump's election campaign through significant political funding during the 2024 US presidential election cycle.
The Fairshake Political Action Committee, which receives backing from entities like Ripple and Coinbase, successfully raised over $200 million to support candidates in key districts during the recent election period.