Trump Hosts Crypto Executives at White House Fundraiser for $250M Ballroom
Crypto Figures Among Donors to $250 Million Ballroom Project
U.S. President Donald Trump hosted a dinner at the White House for companies pledging funds toward the construction of a new $250 million ballroom, with attendees reportedly including senior executives from Gemini, Coinbase and Ripple.
According to the Wall Street Journal, the dinner was part of a fundraising effort to finance the 90,000-square-foot expansion, first proposed by Trump in July. Among those present were Cameron and Tyler Winklevoss, co-founders of Gemini, alongside representatives from Coinbase Global and Ripple Labs. Cointelegraph said it had reached out to all three firms and the White House but had received no response on the size of individual contributions.
The event took place on the fifteenth day of the ongoing U.S. government shutdown, with multiple federal agencies operating with limited staff. As of Thursday, no agreement had been reached in Congress to fund government operations, leaving negotiations between Republicans and Democrats stalled.
Investor Takeaway
Silicon Valley and Defense Giants Join Crypto Leaders
The dinner’s guest list extended beyond crypto, including executives from Meta, Google, Amazon, Lockheed Martin and Microsoft. Former Bakkt chief Kelly Loeffler, now serving as administrator of the Small Business Administration, also attended. Sources said the event was designed to rally high-profile backers around the ballroom initiative, which Trump has described as part of his plan to “modernize the people’s house.”
The planned expansion would add roughly 8,361 square meters to the White House, hosting official ceremonies and private donor events. The project has sparked criticism over its cost at a time when government operations remain partially suspended.
Crypto Executives Deepen Ties to Washington
The dinner capped a week of outreach by crypto executives to lawmakers and regulators in Washington. Industry leaders have been lobbying for clearer digital asset rules following the passage of the GENIUS stablecoin bill earlier this year. The Winklevoss twins, who pledged $2 million in BTC to Trump’s 2024 presidential campaign, have maintained a visible presence in D.C., attending the bill’s signing ceremony in July and donating $21 million to a pro-Trump political action committee ahead of the 2026 midterm elections.
Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty have also built close ties to the Trump administration. Both met with the president-elect in November, attended inauguration events in January, and later joined a White House crypto summit in March. Ripple advertising has since appeared across Washington metro stations, part of a campaign to present the company as a compliant bridge between .
Coinbase CEO Brian Armstrong has been equally active on Capitol Hill. The company donated $1 million to Trump’s inauguration fund, and Armstrong met with Trump privately in November to discuss the GENIUS Act and broader market structure reforms. Coinbase continues to position itself as a key advocate for within the U.S. financial system.
Investor Takeaway
Policy, Optics, and the Growing Crypto Lobby
The optics of the dinner — a luxury fundraising event during a federal shutdown — drew scrutiny from political analysts. Critics said the gathering reinforced perceptions of growing private-sector influence within Trump’s White House, particularly from industries viewking regulatory clarity. Supporters, meanwhile, framed it as evidence of a pragmatic partnership between policymakers and technology innovators.
For the , participation in such events signals the industry’s evolution from regulatory outsider to political stakeholder. With major firms like Ripple, Coinbase, and Gemini now regular fixtures in Washington, the relationship between the administration and crypto companies appears poised to deepen as the next phase of regulation begins.
