President Donald Trump hosted a fundraising dinner at the White House this Wednesday. The event included executives from Gemini, Ripple, and Coinbase. The goal is for crypto leaders fund Trump project for a new ballroom, according to a Wall Street Journal report.
The dinner sought to raise funds for an ambitious addition to the White House. The ballroom’s cost is estimated at $250 million. This new space would add approximately 90,000 square feet (8,361 square meters) to the residence. Interestingly, the fundraiser occurred during the fifteenth day of a partial US government shutdown. Many federal agencies are operating with limited staff due to the lack of a budget agreement in Congress.
The event did not only attract figures from the crypto ecosystem. Representatives from tech giants like Meta, Google, Amazon, and Microsoft also attended. Tech and defense industry giants joined the initiative. Additionally, Kelly Loeffler, former CEO of Bakkt, was present, who now serves in the Trump administration.
Is the alliance between crypto and Washington solidifying?
The attendance of Gemini co-founders Cameron and Tyler Winklevoss is not an isolated event. It shows how digital asset companies are deepening their ties with the administration. The crypto industry is actively seeking greater political participation. This push aims to foster wider adoption of blockchain technology and favorable regulation.
The Winklevoss brothers had already shown their support previously. They donated $2 million in Bitcoin during the 2024 presidential campaign. Recently, they also contributed $21 million to a pro-Trump political action committee ahead of the 2026 midterm elections.
Ripple and Coinbase have also strengthened their ties with the government. Ripple CEO Brad Garlinghouse met with the then-president-elect in November. Likewise, he attended inauguration events. Meanwhile, Coinbase CEO Brian Armstrong has been a constant presence on Capitol Hill. Coinbase donated one million dollars to Trump’s inauguration fund.
The high-profile participation in this White House dinner underscores a clear trend. The crypto industry is securing its place in Washington’s power circles. This direct involvement, which transcends campaign donations to reach presidential infrastructure projects, marks a new stage. The sector seeks to directly influence the future regulatory landscape.
