Donald Trump’s political fundraising arm, MAGA Inc, has raised nearly $200 million in the first half of 2025, significantly fueled by major contributions from the cryptocurrency sector. This financial windfall positions Trump’s camp with a commanding advantage ahead of the 2026 U.S. congressional elections.
A Super PAC with Super Funds
According to recent filings with the Federal Election Commission (FEC), MAGA Inc reported $177 million in donations and $196 million in cash on hand as of mid-2025. By comparison, Future Forward, the Democratic-aligned Super PAC instrumental in Joe Biden’s 2024 campaign, disclosed a cash reserve of just $2,826.
Super PACs are allowed to raise unlimited funds from individuals and organizations, and Trump’s political vehicle has capitalized on this freedom—especially from wealthy tech and crypto backers.
Crypto Giants Lead the Charge
The crypto industry emerged as a leading force in MAGA Inc’s fundraising, contributing at least $41 million, approximately 20% of total donations. This influx highlights the sector’s gratitude for Trump’s regulatory stance and industry-friendly policies.
- Foris Dax, operator of Crypto.com, led crypto donations with a $10 million contribution.
- Tools for Humanity, co-founded by Sam Altman, donated $5 million.
- Venture capitalists Marc Andreessen and Ben Horowitz each gave $3 million.
- Prominent donors also included the Winklevoss twins, Matt Huang, Fred Ehrsam, and Tim Draper.
High-Profile Donors from Tech
- Jeff Yass, TikTok investor, donated $16 million, including a key $15 million contribution on March 6—coinciding with Trump’s announcement to extend the TikTok separation deadline.
- Elon Musk, despite public disputes with Trump, gave $5 million in late June—just before advocating for a new political party.
Crypto-Friendly Policies Under Trump
Trump’s return to the White House has marked a reversal of the Biden-era clampdown on digital assets. The administration has taken several pro-crypto steps:
- Signed legislation legalizing stablecoins.
- Appointed regulators favorable to digital assets.
- Dropped lawsuits against firms like Coinbase and Kraken.
- Pardoned Ross Ulbricht (Silk Road founder) and employees of BITMEX.
- Welcomed CEOs like Brian Armstrong (Coinbase) and Jeremy Allaire (Circle) to the White House.
- Created a national crypto reserve by executive order.
- Appointed Paul Atkins as SEC Chair and David Sacks as the Crypto & AI Tzar.
Trump’s own crypto ventures have also made headlines:
- His media company acquired $2 billion in bitcoin.
- His team earned $350 million from the launch of the $TRUMP memecoin.
- He received $60 million in income through World Liberty Financial, a crypto firm managed by his sons.
Crypto Lobbying Intensifies
Lobbying expenditures by crypto firms have surged under the new administration. In the first six months of 2025, top crypto companies—including Coinbase, Kraken, Paradigm, Binance, Ripple, and others—spent over $8.1 million on federal lobbying, up from $3.6 million during the same period in 2024.
Summary:
MAGA Inc’s massive war chest, driven by support from the booming crypto industry and Silicon Valley elites, underscores the financial muscle behind Trump’s post-White House political influence. With regulatory favor and digital assets soaring—Bitcoin is now trading around $116,000—Trump’s alignment with crypto may prove both economically and politically lucrative.