Several prominent figures from the cryptocurrency and technology sectors are contributing to the funding of President Donald Trump's new White House ballroom. Founders of significant crypto firms, including Ripple, Coinbase, and Tether, along with Gemini's Cameron and Tyler Winklevoss, are among the growing list of donors supporting this substantial project. They are joined by major tech companies such as Apple, Google, Microsoft, and Comcast.
White House Ballroom Project Sparks Excitement and Controversy
The White House initially announced plans for the new ballroom in July, presenting it as a significant enhancement to the nation's most iconic residence. This expansive 90,000-square-foot structure is designed to accommodate up to 650 guests and is estimated to cost approximately $300 million.
Construction commenced in September 2025 and has already generated both enthusiasm and disagreement. Reports indicate that the ballroom's construction is being financed through private donations rather than public funds.
However, the decision to demolish a portion of the East Wing to facilitate the project has faced criticism. Concerns have also been raised regarding the administration's handling of the process and the specific identities of the contributors to the funding.
White House Pushes Back Against Critics
In response to escalating criticism, the White House issued a strong statement in defense of the project. The statement characterized the objections as the latest instance of manufactured outrage.
The statement further alleged that the media and political adversaries were attempting to discredit what it described as President Trump's forward-thinking addition to the White House.
Proponents argue that the ballroom represents a contemporary improvement to the nation's capital and serves as a symbol of private-public collaboration. Conversely, critics perceive it as an unwarranted display of wealth and influence.
Adding to the week's developments, President Trump issued a controversial pardon for former Binance CEO Changpeng 'CZ' Zhao. Zhao had completed a four-month prison sentence after admitting to a failure to implement adequate anti-money laundering controls at his exchange.
The pardon ignited discussions about Trump's increasing engagement with the cryptocurrency industry and its prominent individuals. During a press conference on Thursday, Trump stated that the decision followed numerous endorsements of Zhao's integrity, asserting that Zhao was not guilty of any wrongdoing.
Trump Strengthens Ties with the Crypto Industry
Trump's engagement with the cryptocurrency sector is not a recent development. Over the past year, he has received multiple contributions from key figures in the crypto space. In August, Gemini founders Tyler and Cameron Winklevoss donated 18 Bitcoins, valued at millions of dollars, to a pro-Trump political action committee.
Earlier in the year, Circle, Ripple, and Coinbase provided funding to Trump's inaugural committee. The cryptocurrency industry also played a significant role in the 2024 presidential elections.
Organizations such as Fairshake raised substantial funds to support candidates who advocated for digital assets. This financial backing helped shape what is widely considered the most pro-crypto Congress in U.S. history. The current Congress appears to have Trump's full backing.