Key nominees hold significant stakes in digital assets, signaling a crypto-friendly administration.
Trump’s Pro-Crypto Stance
Donald Trump, now poised for his second term as U.S. President, has pledged to support cryptocurrencies. His administration reflects this commitment, with Vice President-elect JD Vance and several Cabinet nominees owning or engaging with digital assets.
Notable Crypto-Involved Figures in Trump’s Team
- Donald Trump: Previously disclosed investments of $1 million to $5 million in Ethereum. His family also promotes World Liberty Financial, receiving a stake in the project’s crypto tokens.
- JD Vance: Disclosed Bitcoin holdings between $250,000 and $500,000 in 2024.
- Robert Kennedy Jr.: Health Secretary nominee and vocal crypto advocate, holding Bitcoin and shares in Marathon Digital.
- Howard Lutnick: Commerce Secretary pick with ties to Tether through Cantor Fitzgerald, where he is CEO.
- Pete Hegseth and Tulsi Gabbard: Nominees for Defense Secretary and Intelligence Director, respectively, have acknowledged owning cryptocurrencies.
Ethics and Conflicts of Interest
Under U.S. ethics laws, Cabinet members must divest assets that could conflict with their responsibilities. However, Trump and Vance, as President and Vice President, are exempt from these requirements, though disclosures are mandatory.
The Office of Government Ethics clarified in 2022 that digital assets must also be divested if they present conflicts. Lutnick and others have pledged to divest holdings to comply.
Crypto Policy Implications
The crypto-friendly stance of Trump’s administration could influence regulation. With key figures invested in the industry, there may be efforts to create a more favorable environment for digital assets. Critics, however, express concerns over potential conflicts of interest.
Disclaimer:
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