American encryption companies were very individual in the president Donald TrumpRe -elected in 2024, contribution More than 144 million dollars Towards his campaign. However, “political spending that has not been verify a report It was published by the Center for Political Accountability (CPA), a non -profit company that enhances transparency in the political contributions of companies.
The report states that “the aggressive payment in order to cancel the organizational restrictions, in addition to uninterrupted political contributions” has sparked “red flags between the organizers.” More importantly, it “erodes the investor’s confidence and public trust in the long -term feasibility of these companies.”
The encryption companies have donated a large way to re -elect Trump, as they bear fruit
Political spending of American encryption companies was “unprecedented” during the Trump re -election campaign, especially Coinbase and rippleThe report said.
Coinbase Political Committee (PAC) Donate More than 79 million dollars to re -elect Trump, according to data from Opensecrets, a platform that tracks political donations. Ripple was the second largest donor of encryption companies with contributions exceeding 63.6 million dollars.
Coinbase also Donate A million dollars for the Trump installation committee, while Ripple donated $ 5 million in digital assets. In addition, Coinbase committed to donate $ 25 million in mid -term elections.
Tyler and Cameron WinkelvosThe founders of the encryption exchange twinThe $ 1 million of Bitcoin (BTC) donated to Trump 47. Their donations exceeded the legal limit of $ 84,600 and received collectively Recovered amounts for more than $ 300,000.
All three exchanging in the hot water with the US Securities and Stock Exchange Committee (SEC) for years. In June 2023, the Supreme Education Council Charged Coinbase to work for unregistered securities.
Tamulization was involved in a legal battle with SEC since 2020. In August 2024, Ripple was secured Partial victory In court when the judge announced that XRP cannot be categorized as securities because it did not meet the Howe. However, the Supreme Education Council has appealed the decision that the CEO Brad Garlinghyus Described as “madness.”
Likewise, in January 2023, the Supreme Education Council Charged Gemini and Genesis to submit unregistered securities through their profit program that has now ended. After a federal court to reject Companies request to reject the SEC case, Genesis settle The case by paying 21 million dollars. However, Gemini continued to fight.
Trump promised to dismiss the president of SEC Gary Ginsler, but Jinsler resigned from Trump’s inauguration. Since then, the tables have turned and things have begun to search for encryption companies.
Last month, Cameron Winkelvos Declare SEC dropped the investigation of the stock exchange. The company is now said foot For a preliminary general offer (IPO) secrecy. Likewise, secret to reject I spent against Coinbase on February 27.
Earlier this week, Trump also signed an executive order create Bitcoin strategic reserves.
The risks of unimaginable political spending can endanger the entire industry.
The CPA report claims that encryption companies use political contributions to gain political influence. This strategy poses the risks of reputation, legal and financial, and it can be counterproductive, not only expose the future of the companies concerned, but the entire industry.
The report stated:
“as [crypto] The industry continues to search for influence through vast contributions, unusual financial maneuvers, instability, organizational intellectual response, and lack of general confidence only. “
The report also warned historically, the industries that give priority to short -term political gains on transparency and compliance often face severe consequences. This includes the organizational campaign and the decline in consumer confidence.
The CPA report also pointed to the conflict of interests within the Trump administration, which raises dangerous moral questions. For example, the encryption investor David SachsTrump choosing “Crypto CZAR”, will make great gains with the creation of the American BTC stock.
Earlier this week, bags certain He stripped his personal property before the Trump administration started. However, he is still a partner at his Craft Founttures, which carries stakes in the encryption companies. Therefore, the investment company, and thus bags, can benefit from the United States government from Bitcoin.
The report pointed out that “the ghost of this exhaustion does nothing to abandon concerns about the nature of payment of the encrypted currency.”
The report also highlighted the dangers of political leaders who promote MI coins and fraud codes. For example, Argentine President Javier Millie promoted a symbol called $ Libra, which lost about $ 4.6 billion in hours. Likewise, Trump promoted Memecoin $ Trump on January 17. The symbol reached a summit Of more than $ 73 on January 19, it has since lost more than 83 % of its value.
The CPA report concluded:
“Without more transparency and accountability, the future of the legitimacy of encryption in the financial world is still inaccurate.”
