Trump's New Project Supported by Crypto Giant!

Ripple, Coinbase, Tether, and the Winklevoss twins' owned Gemini are making significant donations to President Donald Trump's new White House ballroom project.

What Happened: The crypto sector continues its tradition of supporting Trump through campaign and inauguration contributions. Among these donations, an 18 Bitcoin contribution from the Winklevoss twins stands out. This $300 million, 90,000 square foot ballroom project, announced in July and set to begin construction in September 2025, is progressing.

The new venue will change a part of the East Wing with a capacity of 650 people. Discussions about the scale and costs of the project are ongoing. Major tech firms such as Apple, Google, and Microsoft are also contributing to the project.

Why It Matters: These donations indicate a deepening relationship between Trump and the crypto industry, as the Trump administration has pursued supportive policies toward cryptocurrencies. According to the Financial Times, Trump's personal crypto empire generated over $1 billion in pre-tax profits over the past year. These gains stem from the rise in digital asset markets and significant Bitcoin reserves at the Trump Media & Technology Group.

Trump's pro-crypto stance has enabled him to receive millions of dollars in campaign contributions from leading American crypto firms. Additionally, Trump’s pardoning of former Binance CEO Changpeng Zhao further solidifies his administration’s crypto-friendly approach.