Crypto Industry Backs Trump-Aligned PAC with $21 Million Ahead of Midterms

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Two prominent cryptocurrency exchanges have directed over $21 million to a political action committee supporting US President Donald Trump. The contributions were disclosed in a recent filing with the Federal Election Commission.

The MAGA Inc. Super PAC reported receiving 1,500,000 liquidated USDC from Gemini Trust Company. It also received two separate $10 million contributions from Foris Dax, the parent company of the Crypto.com exchange. Crypto.com has strengthened its relationship with Trump’s media company since 2025 as part of a broader digital asset treasury strategy.

Additional major contributions linked to finance and crypto included $1 million from an executive at payment processor Shift4 and more than $4 million from JP Morgan Chase Bank, N.A. These funds helped bolster the PAC’s total reserves to $294 million.

Although President Trump is not on the ballot in 2026, the PAC’s resources can be deployed to assist candidates who share his political alignment in the upcoming midterms. All 435 seats in the US House of Representatives and 33 Senate seats are contested, with Democrats aiming to reclaim control of both chambers from Republicans.