According to White House releases and reporting by major outlets, private crypto and tech donors are paying for a new 90,000-square-foot ballroom that US President Donald Trump has pushed to build on the site of the East Wing. The project’s price has been revised upward to about $300 million, and the administration says no taxpayer funds will be used.
Private Money Funds Massive Ballroom
Reports have listed a long roster of backers from several industries who are funneling money through a nonprofit charity.
The Trust for the National Mall is being used as the conduit, and White House officials and outside reporting say donations will cover construction costs rather than federal appropriations.
The Trust has longstanding ties to park projects, but critics have flagged the scale and speed of this fundraising drive.
Major corporate names appear on the donor list. Based on reports, tech firms including Amazon, Apple, Google, Meta Platforms and Microsoft are among the contributors.
Crypto companies such as Coinbase, Ripple and Tether are also listed, alongside tobacco companies like Altria and Reynolds American, and defense contractors such as Lockheed Martin.
The list also includes wealthy individuals and some political allies. Exact donation amounts for most contributors remain undisclosed.
Donor Roles Include Tech, Crypto And Tobacco
Officials have said the ballroom will provide space for large events, with one estimate noting it could hold up to around a thousand guests.
The East Wing demolition work has already moved forward while fundraising continues. That demolition and the project’s quick pace have raised questions from preservation groups and some federal overseers about whether required approvals were fully in place before work began.Based on watchdog reporting, the nonprofit handling donations may charge fees for administering gifts. One public interest group reported that the Trust would take about a 2.5% cut on donations, a figure that could translate into millions in fees as money flows in.
Critics say the fee arrangement and the absence of full disclosure on donor sums make it hard to assess who might gain influence from their contributions.
Transparency Questions And Recognition
Reports show donors may receive forms of recognition tied to the project, and draft pledge documents discussed publicly mention options such as having names associated with the ballroom.
That detail has fed concerns from lawmakers and watchdogs about whether private funding will create expectations of access or favors.
At least some members of Congress have asked for more information and for clearer accounting of how gifts are handled.
Featured image from Gathering Point News, chart from TradingView
