According to The Block, Ripple (XRP), Coinbase, Tether (USDT), Gemini co-founders Cameron and Tyler Winklevoss and other major cryptocurrency firms donated to the construction of US President Donald Trump’s new White House ballroom.
These companies, major cryptocurrency companies, were reportedly included in the list of sponsors of the Trump administration’s “White House Ballroom” project.
Other major donors include major companies such as Amazon, Apple, Google, Meta and Microsoft.
President Donald Trump officially announced the White House ballroom construction plan in July.
At that point, it was announced that the project, which included the renovation of the White House East Wing, would be funded by private donations rather than taxpayer money.
Construction of the ballroom, which will cover approximately 8,360 square meters and can accommodate more than 650 people, began in September. The total cost is estimated at approximately $300 million.
President Trump described the project as “a visionary building that will symbolize America’s cultural renaissance,” adding, “This ballroom is a historic endeavor funded entirely by private donations.”
Trump has received numerous donations from the cryptocurrency industry over the past year. In August, Tyler and Cameron Winklevoss donated 18 Bitcoin to a pro-Trump political action committee, while in January, prominent industry figures like Circle, Ripple, and Coinbase donated to Trump’s inaugural committee.
The cryptocurrency sector also supported Trump’s election by providing significant political funding in the 2024 US presidential election. Fairshake, backed by Ripple and Coinbase, raised more than $200 million to support candidates in critical districts during the last election cycle.
*This is not investment advice.