Crypto Executives Unite with Trump at White House Fundraiser for $250M Ballroom Project

US President Donald Trump hosted a White House fundraiser with 128 guests, including prominent figures from the crypto industry such as Coinbase, Ripple, and Tether, to raise funds for a $250 million ballroom project. The event sparked questions about the potential influence wealthy donors may have over Trump.

US President Donald Trump recently hosted a high-profile fundraiser at the White House, inviting 128 guests, including prominent figures from the cryptocurrency industry, to support a $250 million ballroom expansion project. The event, held on Wednesday, September 12, 2025, has sparked discussions about the potential influence of wealthy donors on the Trump administration.

The fundraiser, which took place in the White House's East Wing, aimed to gather funds for a new 90,000-square-foot ballroom. Among the attendees were executives from major cryptocurrency companies such as Coinbase, Ripple, and Tether. The event was attended by Cameron and Tyler Winklevoss, co-founders of Gemini, who have been consistent supporters of Trump's political campaigns and crypto legislative efforts, according to a Blockonomi report.

Ripple Labs CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty were also present, having built ties with Trump since his 2024 election campaign. Their attendance underscores Ripple's growing influence in Washington and its alignment with the Trump administration's crypto policies, as noted in the Blockonomi report.

Coinbase CEO Brian Armstrong, known for his advocacy for favorable cryptocurrency regulations, was also listed among the attendees. His presence highlights Coinbase's political outreach and support for pro-crypto legislation, which the Blockonomi report outlines.

The event also saw the attendance of executives from other major tech companies, including Google, Meta, Microsoft, and Lockheed Martin, as well as oil billionaire Harold Hamm, Blackstone CEO Steve Schwarzman, and Small Business Administration chief Kelly Loeffler. The Adelson Family Foundation, founded by GOP megadonors Miriam Adelson and her late husband Sheldon, also had a presence at the dinner, according to an ABC News report.

The ballroom project, which has yet to receive approvals from the National Capital Planning Commission and the Commission of Fine Arts, is estimated to cost $250 million. Trump indicated that the fundraising and managing costs for the project were going well and predicted that he would have money left over after the project is done, as reported by ABC News.

The fundraiser has raised questions about potential conflicts of interest and the influence of wealthy donors on the Trump administration. Ethics experts have expressed concerns over the frequency and immediacy of favorable outcomes for donors, such as pardons, policy reversals, and regulatory relief, according to a Financial Express report.

The cryptocurrency sector has been a notable beneficiary under Trump's second term. Donors from the sector, including Coinbase, Crypto.com, and the Winklevoss twins, have contributed significantly to Trump's campaigns and initiatives, potentially shaping the administration's crypto policies, the Financial Express report adds.

The event also saw the unveiling of another project by Trump: an arch that will stand on one end of the Arlington Memorial Bridge. The arch, which will feature Lady Liberty on top, is planned to be a significant addition to the bridge's design, according to ABC News.