Stablecoin Giant Circle Donates 1 Million USDC to President Trump’s Inaugural Committee

Jeremy Allaire, Circle’s CEO, revealed on Thursday that the company had donated $1 million USDC to President-elect Donald Trump’s inaugural committee.

@circle has contributed 1M USDC to President Trump's Inaugural Committee.  We are excited to be building
a great American company, and the fact that the Committee took payment in USDC is an indicator of how far we have come, and the potential and power of digital dollars.

— Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) January 9, 2025

Allaire posted on social media platform X, “Circle has contributed 1M USDC to President Trump’s Inaugural Committee. We are excited to be building a great American company, and the fact that the Committee took payment in USDC is an indicator of how far we have come, and the potential and power of digital dollars.”

President-elect Trump’s growing interest in cryptocurrency has been highlighted by recent developments, including a meeting with Ripple executives earlier this week.

Ripple CEO Meets Donald Trump Ahead of Inauguration

Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty met with President-elect Donald Trump earlier this week, ahead of his January 20 inauguration.

According to a Tuesday X post from Garlinghouse, the two executives dined with Trump on Monday.

Great dinner last night with @realDonaldTrump & @s_alderoty.

Strong start to 2025! pic.twitter.com/UjM6lahUG4

— Brad Garlinghouse (@bgarlinghouse) January 8, 2025

A photo shared by Garlinghouse showed the trio posing together, with the Ripple executive describing the meeting as a “strong start to 2025.”

Circle’s Role in Advancing Cryptocurrency Adoption

In December, Circle partnered with Binance to promote the adoption of USDC and other digital assets.

The company is also expanding into Hong Kong to establish it as a key hub for cryptocurrency activity in Asia, ahead of its planned initial public offering (IPO).

Circle’s USDC currently ranks second among stablecoins pegged to the U.S. dollar, with a market capitalization of $45 billion. Tether’s USDT leads the stablecoin market with a capitalization of $137 billion.