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GUSD Minting
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Recent filings from the Federal Election Commission reveal a striking figure: two leading cryptocurrency exchanges have contributed over $21 million to a political action committee supporting U.S. President Trump.
What exactly happened? Gemini Trust Company contributed $1.5 million USDC, while Crypto.com's parent company Foris Dax made two separate donations of $10 million each. These funds will be used to support candidates aligned with Trump's ideology in the 2026 U.S. midterm elections. It's important to note that all 435 House seats and 33 Senate seats will be up for election at that time.
Interestingly, since 2025, Crypto.com has engaged in deeper collaborations with Trump's media company. This indicates that the crypto industry’s involvement in the U.S. political landscape is gradually increasing, with industry leaders strengthening their interactions with political forces through various means.