Crypto giants including Ripple (CRYPTO: XRP), Coinbase (NASDAQ:COIN), Tether (CRYPTO: USDT), and the Winklevoss twins' Gemini are among key donors helping fund President Donald Trump's new White House ballroom project.
What Happened: The crypto industry, a longtime backer of Trump through campaign and inaugural donations, including an 18 BTC contribution from the Winklevoss twins, is now supporting the $300 million, 90,000 sq. ft. ballroom, announced in July and under construction since September 2025.
The new venue will seat 650 people and replace part of the East Wing, sparking controversy over the project's scale and costs, The Block reported.
Major tech firms such as Apple, Google, and Microsoft are also contributing.
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Why It Matters: The donations reflect the deepening ties between Trump and the crypto industry following his administration's pro-crypto policies.
According to the Financial Times, Trump's personal crypto empire generated over $1 billion in pre-tax profits in the past year, driven by soaring digital asset markets and his stake in Trump Media & Technology Group (NASDAQ:DJT), which holds significant Bitcoin (CRYPTO: BTC) reserves.
Trump's pro-crypto stance earned him millions in campaign contributions and subsequent inauguration donations from leading U.S. crypto firms.
The news follows Trump's recent pardon of former Binance CEO Changpeng Zhao, underscoring his administration's increasingly crypto-friendly posture.
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