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.
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.
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.
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.
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.
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
