6 Crypto Tycoons Who Backed Trump
Key Takeaways
- Donald Trump ran on a pro-crypto platform in the 2024 presidential race, promising a raft of measures to support the space.
- Multiple industry leaders like the Winklevoss twins and Howard Lutnick endorsed Trump, with some also making significant campaign contributions.
- Elon Musk also showed his support, adding $75 million to a super PAC for Trump.
- With a second term looming, it’s go-time for Trump’s crypto shake-up – and close industry connections could help shape that story.
As 2024 nears its conclusion, the political landscape in the U.S. has shifted dramatically. With the election of Donald Trump as the 47th president of the United States, many industries, including cryptocurrency, are set for major changes. With the space currently boasting a global market cap of over $2.4 trillion, it’s worth knowing how those changes might look.
Trump consistently billed himself as a pro-crypto candidate, attracting a following of industry heavyweights in the process. With his second term now all but confirmed, Donald Trump’s connections to key leaders in the crypto world could hint at how policy and market dynamics may evolve under his stewardship.
In this article, we’ll look at some of the crypto industry leaders backing President Trump, as we embark on a new era for cryptocurrency.
6 Crypto Leaders Close to Trump
The following are prominent figures in the cryptocurrency world who have endorsed Trump and could potentially influence the direction of crypto regulation and innovation. Some of them have even made notable donations to Trump’s campaign.
| Name | Company/Project | Net Worth | Amount Pledged |
|---|---|---|---|
| Peter Thiel | Palantir, Founders Fund | $7.2 billion | $1.25 million |
| Cameron & Tyler Winklevoss | Gemini Exchange | $3.6 billion | $2 million |
| Howard Lutnick | Cantor Fitzgerald | $1.5 billion | $6.4 million |
| Bijan Tehrani | Stake | $1.3 billion | $852,396 |
| Jesse Powell | Kraken Exchange | $500 million | $1 million |
| J.P. Richardson | Exodus Wallet | Unknown | $853,914 |
1. Peter Thiel – Palantir, Founders Fund – Net Worth: $7.2 billion
Peter Thiel, the co-founder of PayPal and Palantir, has long been an influential player in Silicon Valley and a vocal supporter of Trump. Thiel has openly advocated for crypto, seeing it as a way to disrupt traditional financial institutions and strengthen individual freedoms. His Founders Fund has invested over $200 million in Bitcoin and Ethereum.
Known for his conservative values, Thiel might use his alignment with Trump to push for limited regulation in the crypto industry. Thiel didn’t donate any funds in 2024 but said he’d vote for Trump. Back in 2016, Thiel donated $1.25 million to the Trump campaign.
2. Cameron & Tyler Winklevoss – Gemini – Combined Net Worth: $3.6 billion
The Winklevoss twins, founders of the Gemini crypto exchange, are some of the most high-profile names in cryptocurrency. Known for their early investment in Bitcoin, they have consistently supported a more structured and regulated approach to crypto. Consequently, this aligns with Trump’s endorsement of institutional financial structures.
The duo has stated that the Biden administration had “openly declared war against crypto”. The twins have pledged to help make America a leader in digital assets. Back in June, each of the twins donated $1 million in Bitcoin to support the Trump campaign. Their aid for Trump suggests they could influence future crypto regulation to protect users while allowing innovation to flourish. In the meantime, the Gemini exchange continues to expand in the digital finance space.
3. Howard Lutnick – Cantor Fitzgerald – Net Worth: $1.5 billion
Howard Lutnick, a notable Bitcoin investor and staunch advocate of Tether, has become one of the biggest financial supporters of Trump’s recent campaign, donating around $6.4 million. Known for his work as CEO of Cantor Fitzgerald, a leading global financial services firm, Lutnick is a strong proponent of cryptocurrency, particularly stablecoins like Tether.
Most recently, he also spoke at the Bitcoin conference in Nashville, announcing his plans to launch Bitcoin Financing business. His contributions reflect not only his alignment with Trump’s pro-crypto stance but also his interest in shaping the regulatory future for digital assets in the United States. Lutnick’s backing could influence policy decisions, particularly around stablecoins, which are increasingly scrutinized by regulators but remain a crucial element in crypto finance.
4. Bijan Tehrani – Stake – Net Worth: $1.3 billion
Bijan Tehrani, the co-founder of Stake, has shown his backing for Trump with a donation of $852,396. Stake is an online crypto casino platform that uses cryptocurrency to enable gaming for a global audience.
Tehrani’s contribution to Trump’s campaign indicates his desire for a regulatory environment that could favor innovative uses of crypto within online platforms, especially in sectors like gaming. His support for Trump could reflect a belief that the president may offer policies conducive to expanding crypto in areas like online entertainment and gaming.
5. Jesse Powell – Kraken – Net Worth: $500 million
Jesse Powell, the founder of Kraken, one of the world’s leading cryptocurrency exchanges, has made a significant contribution to Trump’s campaign, donating $1 million. In addition, Powell is known for his outspoken stance on financial freedom and the benefits of decentralized finance. Kraken, under Powell’s leadership, has become a major force in the crypto ecosystem, providing access to a wide array of digital assets.
His support for Trump aligns with his belief in limited government interference and his advocacy for a more open financial system. Finally, as a prominent figure in the industry, Powell’s contribution signals his interest in fostering a pro-crypto regulatory environment under Trump’s leadership.
6. J.P. Richardson – Exodus Wallet – Net Worth: Unknown
J.P. Richardson, the CEO of Exodus, a popular crypto wallet platform, contributed $853,914 to support Trump’s election efforts. Exodus provides a secure, user-friendly wallet experience, giving users control over their digital assets and promoting self-custody.
Richardson’s donation suggests he sees Trump as a favorable choice for advancing a more crypto-friendly landscape. Furthermore, given Exodus’s commitment to user sovereignty and privacy, Richardson’s backing of Trump likely aims to reduce regulatory hurdles that could restrict individual financial freedoms.
Elon Musk – an Honorable Mention
Tesla CEO Elon Musk, with a net worth of more than $245 billion, has donated approximately $118 million to America PAC, backing Trump’s campaign. Musk has shown support for cryptocurrency on several occasions, and his remarks on Bitcoin, Dogecoin, and other digital assets often lead to market fluctuations. Musk’s stance on crypto has been somewhat controversial.
For example, Bitcoin’s price surged by 20% when he added “#bitcoin” to his bio on X in 2021. Later, in 2021, he announced that Tesla would no longer accept Bitcoin payments, citing concerns over the environmental impact of Bitcoin mining and transactions. Still, Musk has emphasized his belief that “cryptocurrency is a good idea on many levels”.
Closing Thoughts
As Trump’s presidency unfolds, the future of cryptocurrency regulation may take shape with the support of these influential crypto leaders. Their collective vision and influence could steer policy toward a more crypto-friendly environment, while simultaneously pushing for regulatory clarity. Additionally, these alliances may lead to a broader adoption of blockchain technology within traditional financial systems. As always, the true impact of these collaborations will only become clear over time.
FAQ
Which crypto leaders support Trump?
Crypto leaders such as the Winklevoss twins, Jesse Powell, and J.P. Richardson have publicly supported Trump. They’ve also contributed with donations to his campaign.
What impact might Trump’s stance have on crypto growth in the U.S.?
With support from prominent crypto advocates, Trump’s administration may strengthen the U.S. position in the global crypto market.
