Blockchain analytics company Breadcrumbs has reported that donations from traditional financial sources to Donald Trump’s 2024 Presidential campaign significantly exceed his crypto contributions.

As of June 17, 2024, the campaign has received $59,386 in on-chain crypto donations, according to the firm’s analysis. However, traditional finance donations to Trump’s campaign have totaled around $244 million by the end of May.

It’s worth noting that the analysis was conducted before the recent $2 million donation from the Winklevoss twins.

Breadcrumbs emphasizes that not all crypto transactions are recorded on-chain. Transactions that are recorded on a blockchain are termed “on-chain,” while those that are not recorded on a blockchain are referred to as “off-chain,” often facilitated through centralized entities like Coinbase.

Trump’s campaign is accepting donations through Coinbase’s crypto payments service, Commerce. Donors have the option to use Ethereum, Polygon, and Base blockchains to send money, but the campaign wallet only accepts USDC, requiring other cryptos to be converted before donation.

The analysis reveals that the campaign has received approximately $20,000 from Ethereum, $27,500 from Polygon, and $11,300 from Base, totaling less than $60,000.

It’s important to distinguish campaign donations from cryptocurrencies, memecoins, and NFTs associated with or owned by Trump personally, as they are separate from official campaign donations.

Trump has recently dubbed himself “The Crypto President” in a bid to attract digital asset supporters, despite facing convictions for 34 felonies by a New York jury last month.

Stay informed by subscribing to receive email alerts from The Daily Hodl and follow them on various social media platforms for the latest updates. Remember to conduct thorough research before investing in high-risk assets like Bitcoin, cryptocurrencies, or digital assets. Trading is at your own risk, and losses incurred are solely your responsibility.

Featured Image: Shutterstock/ZinetroN/Andy Chipus