Circle Chief Executive Officer Jeremy Allaire said Thursday on X that the stablecoin company contributed tokens worth $1 million to President-elect Donald Trump’s inaugural committee — joining a parade of other CEOs vying for favor as the incoming administration works to form a key crypto industry group.

The Senate Banking Committee is reportedly looking to create a crypto subcommittee while Trump is considering pro-crypto CFTC Commissioner Summer Mersinger to head the agency.

Many of crypto’s top firms have eagerly lined up to fund parties and events surrounding President-elect Donald Trump's inauguration.

President-elect Donald Trump’s upcoming January 20 inauguration has attracted millions of dollars in donations from the crypto industry, according to Decrypt. Crypto firm Ripple, which is currently embroiled in a high-profile lawsuit with the U.

President-elect Donald Trump was once skeptical of digital assets, saying Bitcoin “seems like a scam” and that crypto’s value was “based on thin air.”

Crypto CEOs have either pledged donations, made contributions, or held meetings with Trump in hopes of securing positions on the incoming crypto advisory council.