Crypto.com has made headlines after donating $35 million to the pro-Trump super PAC MAGA Inc. over the past year, with its most recent $5 million contribution leading to favorable regulatory actions. Following this donation, the Commodity Futures Trading Commission (CFTC) intervened in support of the exchange amid a lawsuit with Nevada regarding sports-related prediction markets. Additionally, the Office of the Comptroller of the Currency (OCC) approved Crypto.com’s application for a national banking charter, enhancing its status as a potential major custodian for financial institutions. Notably, Crypto.com’s spending strategy contrasts with other industry players like Coinbase and Ripple, which prefer to support their own non-partisan PACs. The company also maintains a strategic partnership with Trump Media and Technology Group, which has resulted in Trump-branded crypto ETFs and other products linked to the former president’s social media platform.
Crypto.com secures regulatory wins after $35M donations to Trump PAC
