Crypto giants officially "entered the circle" in Washington: Ripple and Tether became the main donors of Trump's $300 million White House banquet hall

According to reports on October 24, leading companies in the Crypto Assets industry, such as Ripple and Tether, have officially been listed as major private donors for President Trump’s new White House banquet hall (valued at $300 million). This move marks a significant increase in the Crypto Assets industry's influence on American politics, as it is the first time digital assets have appeared on such a high-profile White House donor list. Analysts believe that, in the context of a more optimistic regulatory policy shift, crypto companies are deepening their political footprint in Washington through this means, although critics warn that this could pose a political risk of “paid access.”

Crypto Assets giant makes debut on White House elite donation list

The East Wing banquet hall expansion project being undertaken by the Trump administration is said to be entirely funded by private donations, with a total value of up to 300 million dollars. The list of donors for this project has become an important window for observing the intersection of traditional power structures and emerging crypto assets.

This donor list includes about 40 major companies and individuals, ranging from tech giants like Amazon and Google to defense contractors like Lockheed Martin. Notably, the presence of leading US CEX, Ripple, and Tether is particularly striking, as they are among the first crypto assets companies to appear on the high-level White House donation registry.

These Crypto Assets giants are increasingly influencing Washington. CEX CEO Brian Armstrong has been an active advocate for clear encryption regulation. Ripple, the issuer of XRP, had its CEO Brad Garlinghouse meet with Trump back in March. The inclusion of Tether America, the U.S. branch of Tether, the world's largest stablecoin issuer, highlights the increasingly important role that stablecoins play in mainstream finance.

Political Footprint Expansion: Resonance with Regulatory Optimism

The donations from crypto giants to the White House project coincided with the Trump administration releasing a series of signals friendly to digital assets, which the market interprets as an accelerated expansion of the political footprint of the crypto industry.

This donation occurred after the Trump administration took a series of actions to support digital assets, including the previous blockchain innovation executive order and the recent presidential pardon of mainstream CEX founder CZ. These initiatives indicate a positive inclination within the government towards crypto innovation.

Armstrong revealed this week that the new U.S. Crypto Assets market structure bill is “90% complete,” raising market expectations for a friendly regulatory environment for decentralized finance and Stablecoins. Additionally, the involvement of another CEX founder, Cameron and Tyler Winklevoss, among other senior tech figures, further enhances the representation of the Crypto Assets industry on the donation list.

Criticism and Controversy: The Risks of “Paid Access” in Political and Business Relationships

Although the crypto industry sees this as a milestone for mainstream acceptance, this private financing project has also raised concerns among political observers and critics about potential conflicts of interest.

Senator Elizabeth Warren and former Secretary of State Hillary Clinton, among other politicians, have questioned the influence of private donors, warning that such arrangements could constitute political behavior of “pay-to-play”. This criticism holds that large private donations could exchange for government policy bias or special treatment.

Despite facing legal lawsuits filed by conservation groups aimed at delaying the project, the involvement of top crypto companies undoubtedly marks a shift in the industry's standing within the power structure of Washington. Once seen as outsiders, crypto firms are now funding one of the most symbolic buildings in the United States.

Future Outlook

Ripple, Tether and others have become major donors to Trump's White House banquet hall project, marking a clear signal of the political influence of the crypto industry moving from the margins to the core. Against the backdrop of an increasingly optimistic regulatory environment, this deep intertwining with traditional power centers suggests that Crypto Assets no longer play a peripheral role in U.S. policymaking. However, this high-profile political participation also brings risks of transparency and conflicts of interest. As the crypto industry seeks legitimization and favorable regulation, it must balance its public image with its political responsibilities.

Disclaimer: This article is for informational purposes only and does not constitute any investment advice. The crypto market is highly volatile, and investors should make decisions with caution.