President Trump has surrounded himself with cryptocurrency enthusiasts. That’s not a coincidence. In 2024, the cryptocurrency industry spent millions backing friendly congressional candidates, many of whom were Republicans, and many cryptocurrency executives backed Trump. Here, we’ve mapped the most crypto-crazed members of the president’s inner circle and the biggest donors to three pro-crypto super PACs: Fairshake, Defend American Jobs, and Protect Progress.
Cryptocurrency companies felt mistreated by Democrats. Now, with a more sympathetic man in charge, the industry’s biggest donors are looking for a change. They want clear rules for their businesses and a say in which agency oversees those rules. And they want Trump to make good on his campaign promises to establish the United States as the leading bitcoin mining power and create a national “bitcoin reserve.” They hope that the Trump presidency will be a golden era for cryptocurrencies. In December, when the price of one bitcoin surpassed $100,000 for the first time, Trump posted online: “WELCOME!!!”