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A new disclosure shows how corporations and individuals, including many in the crypto business, wrote big checks while seeking favor from the president.
Aug. 2, 2025, 5:01 a.m. ET
When the cryptocurrency entrepreneur Eric Schiermeyer heard that President Trump was holding small group dinners with major donors, he saw opportunity.
Mr. Schiermeyer reached out to a lobbyist with connections in Mr. Trump’s orbit, who arranged for him to attend a dinner with the president at his private Mar-a-Lago club on March 1 in exchange for donations to a pro-Trump PAC called MAGA Inc. totaling $1 million.
The personal and corporate donations were among dozens of seven- and eight-figure contributions to MAGA Inc. from crypto and other interests revealed in a campaign finance filing on Thursday night that hinted at the access Mr. Trump accords those willing to pay.
At the dinner, Mr. Schiermeyer, who had never given a federal political donation before, presented an idea for a cryptocurrency called “U.S.A. Token” that would be distributed to every citizen, according to interviews and a flier he distributed to attendees that sets out details of the proposal. He hoped it could be supported through a federal contract with his company.
“I don’t usually put time and attention on politics,” Mr. Schiermeyer said in a text exchange with The New York Times. But, he added, “I was able to say my piece, and the idea is clearly making the rounds, so mission accomplished from my view.”
While the Trump administration has not given Mr. Schiermeyer any indication it is pursuing the U.S.A. Token idea, the episode underscores the face time that Mr. Trump has been willing to grant to deep-pocketed interests seeking business, preferential treatment or protection from him and his administration.
