Crypto Firms Pour $21M Into Pro-Trump PAC Ahead of US Midterms
In September and October, Gemini Trust Company and the parent company of Crypto.com funneled millions of dollars into a pro-Trump political action committee, totaling roughly $21 million. The contributions arrived in the run-up to the U.S. midterm elections, drawing attention because of the size of the checks and the prominence of the firms involved.
The spending underscores how major crypto companies are increasingly participating in partisan politics, a development that could shape regulatory access and policy outcomes. Observers say such high-profile donations may invite closer scrutiny from regulators and raise questions among customers and investors about corporate alignment and reputational risk. For markets and policymakers, the episode highlights the growing intersection between crypto industry strategy and U.S. electoral politics.