Ripple was Trump inauguration’s top crypto donor before SEC regulatory shift

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—by Protos Staff

Ripple Labs donated $4.9 million to Donald Trump’s January inauguration, just three months before the Securities and Exchange Commission (SEC) began pausing lawsuit appeals and reducing fines against the crypto firm.

The details of Ripple’s donation — the second largest after the $5 million handed over by poultry producer Pilgrim’s Pride — were made public on Sunday as part of a filing submitted to the Federal Election Commission.

According to a list compiled by publisher Fortune, crypto firms and leaders were responsible for $18 million of the inauguration’s $239 million in donations.

Crypto exchange Coinbase and investment firm Galaxy Digital donated $1 million each, while more modest gifts came from Yuga Labs and Consensys, which both donated $100,000.

SEC wants to settle with Ripple, drops Helium case

Read more: Bank of America lobbies to dethrone Tether and Circle

Earlier this month, the SEC and Ripple filed to pause the regulator’s appeal against the firm in order to pursue a settlement. This was approved last week, and the case was paused for 60 days.

Ripple had previously settled with the SEC and dropped its cross-appeal. This settlement reduced the firm’s previous $125 million fine to just $50 million.

The SEC dropped another case against Coinbase in February, and this month it okayed Galaxy Digital’s request to list itself on the Nasdaq. In March, Galaxy Digital paid the New York Attorney General’s Office $200 million as part of a settlement related to its promotion of the collapsed LUNA token. 

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