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Jakarta, Pintu News – In the first half of 2025, President Donald Trump managed to raise $236 million in campaign funds, with large donations coming from the crypto industry.
These funds increased Trump’s total cash on hand to $274 million to support Republican candidates in the midterm elections.
This amount set a record as the largest donation ever received by a president serving a second term.
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Trump’s super PAC MAGA Inc. raised $177 million, with some lavish dinners costing as much as $1 million per plate. Other events were priced at $1.5 million per person, attracting donations from business leaders, tech investors and crypto industry figures.
Jeff Yass, billionaire and co-founder of Susquehanna International Group, donated $16 million. Meanwhile, Kelcy Warren, an energy billionaire, and her company, Energy Transfer LP, gave $25 million.
In the crypto industry, Foris DAX Inc. the parent of Crypto.com contributed $10 million, while Blockchain.com contributed $5 million. Tech investors such as Marc Andreessen and Ben Horowitz contributed $3 million each. The crypto billionaire twins, Cameron and Tyler Winklevoss, donated a little over $2 million.
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Elon Musk, founder of Tesla and owner of social media X, also weighed in on MAGA Inc. with a $5 million donation at the end of June 2024. In addition, Musk gave $75 million to groups supporting Republican candidates for the House and Senate.
This comes after Musk left his position at the White House in May and criticized Trump and Republicans over tax and spending bills.
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Meanwhile, the Democratic Party is lagging far behind in fundraising. The Democratic National Committee only managed to raise $69 million, and their main super PAC, Future Forward, only raised about $1 million. About 70% of Trump’s funds came from donors who gave $1 million or more.
Small donations from donors who gave less than $200 declined to $22 million this year. Trump’s other political groups such as Never Surrender, Save America, and Make America Great Again PAC had $41 million left as of June after spending $26.5 million, of which about $6 million went to legal fees.
With this huge amount of funding, Trump is showing significant financial power in supporting the Republican Party.
Despite still facing several legal cases, including an appeal of 34 felony charges related to payments to adult film actress Stormy Daniels, as well as a $500 million civil fraud fine and an $83.3 million debt to author E. Jean Carroll for defamation, this strong financial backing may have a major influence in the upcoming election.
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