Article Source: Weilin
Author: Weilin, PANews
Before winning the 2024 U.S. election, Trump had clearly promised to promote a pro-crypto policy stance. Now, as his new government member list is gradually revealed, the crypto movements of these members quickly attract market attention.
This article will review the cryptocurrency holdings and policy positions of 8 members of Trump's new government, from Vice President JD Vance to Secretary of Health and Human Services Robert F. Kennedy Jr. Among these core decision-makers, some directly invest in crypto assets, while others convey support for the crypto industry through policies and statements.
Vice President J.D. Vance: Holds hundreds of thousands in Bitcoin, supports cryptocurrency.
Position: A document submitted to the U.S. Congress on August 13, 2024, shows that Vance disclosed holdings valued between $100,000 and $250,000 in Bitcoin.
Crypto Position: JD Vance has been a staunch supporter of cryptocurrency and has made several important statements on the subject. His position is very pro-crypto, specifically reflected in the following aspects: first, he supports the pro-crypto House Joint Resolution SAB 121.
Secondly, in statements and actions, on July 13, 2023, Vance proposed a bill aimed at protecting cryptocurrency companies from regulatory pressure from banks, advocating for more politically neutral oversight. On February 8, 2024, he criticized the SEC's handling of the DEBT Box case alongside several Republican senators, accusing its actions of being unethical and unprofessional. On June 20, 2024, Vance expressed strong support for cryptocurrency, sharing a post about making cryptocurrency donations for Trump.
In fundraising, Vance received support from Super PACs (Super Political Action Committees) through Bitcoin supporter Peter Thiel.
On social media, Vance frequently shares his optimistic views on cryptocurrency on platforms like X (formerly Twitter), including a tweet on February 15, 2022, discussing the rise of cryptocurrency due to regimes severing ties with banks.
Treasury Secretary Scott Bessent: Former key member of the Soros team, publicly supports Bitcoin and the crypto economy.
There is no public record of cryptocurrency holdings. Bessent runs the macro investment firm Key Square Group. He worked for renowned investor George Soros 30 years ago. In 1992, Bessent became a key member of Soros's team and pushed for a bet on the collapse of the pound, generating over $1 billion in profits for the firm. He left in 2015 to found Key Square Group, which peaked at managing over $5 billion in assets.
Today, Bitcoin and the entire cryptocurrency sector have become his focus. "I am very excited about (Trump) embracing cryptocurrency; I think it aligns very well with the spirit of the Republican Party. Cryptocurrency represents freedom, and the crypto economy will last for a long time," he stated in an interview with Fox Business Channel in July this year. "Cryptocurrency attracts young people and those who have never participated in the market."
National Security Advisor Michael Waltz: Holds less than $100,000 in Bitcoin, advocates for crypto-supportive policies
Position: Last year's disclosure records showed that in 2023, Waltz owned between $50,000 and $100,000 in Bitcoin.
Crypto Position: Michael Waltz was previously a Republican Congressman from Florida, and he has shown strong support for cryptocurrency, making several important statements: he voted in favor of the very crypto-friendly bill FIT21, voted for the crypto-friendly House Joint Resolution SAB 121, and co-sponsored the CBDC Anti-Surveillance National Act, focusing on opposing the use of Central Bank Digital Currency (CBDC) as a surveillance tool.
Director of National Intelligence Tulsi Gabbard: Holds a small amount of Litecoin and Ethereum, opposes government advancement of CBDC.
Position: In the second half of 2017, she held between $1,000 and $15,000 in Litecoin and between $1,000 and $15,000 in Ethereum.
Crypto Position: Although Gabbard stated in her last disclosure in 2019 that she no longer holds cryptocurrency, she has consistently criticized government actions that infringe on financial privacy and autonomy.
She believes that efforts to promote Central Bank Digital Currency (CBDC) are part of a broader initiative by the government to strengthen control over the public, undermining the decentralized nature of cryptocurrencies like Bitcoin.
Co-leader of the Department of Government Efficiency Elon Musk: Supporter of Bitcoin and Dogecoin.
Position: Earlier this year, X Space showed that Musk once said, "I still hold a large amount of Dogecoin, and SpaceX also holds a large amount of Bitcoin." As of November 21, Arkham Intelligence shows that Tesla holds 11,509 BTC, worth approximately $1.11 billion.
Crypto Position: Although not a member of Trump's cabinet, Musk is undoubtedly closely related to Trump's camp and is at least a supporter of cryptocurrency in public.
He is the co-leader of the newly established "Department of Government Efficiency," appointed by Trump, which has an abbreviation that is the same as the Dogecoin (DOGE) code. Musk often expresses support for Dogecoin, calling it "the people's cryptocurrency," and has influenced its market value.
Secretary of Commerce Howard Lutnick: Holds hundreds of millions in Bitcoin, provides years of custodial services for Tether
Position: Lutnick recently revealed in an interview with Professional Capital Management founder Anthony Pompliano, "I own Bitcoin worth hundreds of millions; I expect that number to soon reach billions."
Crypto Position: Lutnick is a super fan of Bitcoin. At the 2024 Bitcoin conference, he stated, "Bitcoin is the same as gold. Bitcoin should be traded like gold—globally, without exception." His company Cantor Fitzgerald has helped Tether manage a large inventory of U.S. Treasury bonds supporting its USDT stablecoin since 2021. Cantor Fitzgerald also recently announced a Bitcoin financing business aimed at providing leverage for Bitcoin investors, with initial funding of $2 billion.
Co-leader of the Department of Government Efficiency Vivek Ramaswamy: Was a candidate accepting cryptocurrency donations; his company will include Bitcoin in its portfolio.
Since Ramaswamy was not previously a member of Congress, he did not need to publicly disclose his cryptocurrency holdings. However, this billionaire businessman has actively supported cryptocurrency, and there are reports that he personally holds digital assets.
For example, this former competitive Republican presidential candidate announced two years ago that he would accept cryptocurrency donations for his campaign at the Bitcoin conference in Miami in 2023.
Ramaswamy also emphasized the need for clear regulation of cryptocurrency. He criticized the current regulatory approach of agencies like the SEC, calling it "enforcement-based regulation," and advocated for a framework that promotes innovation while ensuring consumer protection.
Additionally, Ramaswamy's Strive Asset Management (which manages $1.7 billion in assets) announced in early November that it would include Bitcoin in its clients' portfolios.
Secretary of Health and Human Services Robert F. Kennedy Jr: Invests most of his wealth in Bitcoin, criticizes the Biden administration's regulatory measures.
Robert Kennedy Jr does not have a public record of cryptocurrency holdings as a member of Congress, but this prominent Bitcoin supporter and former presidential candidate recently stated that he is investing most of his wealth in cryptocurrency and has made several public statements about it. Young Kennedy stated at a public event in November, "I am a staunch supporter of Bitcoin; I attended another Bitcoin conference a year ago. Most of my wealth is in Bitcoin, so I am fully committed to it."
This member, who is about to join the Trump administration, praised Bitcoin as a hedge against inflation in a post in November. "Bitcoin is free money, a hedge for middle-class Americans against inflation, a remedy for the declining status of the dollar as the world's reserve currency, and an escape from the disaster of national debt," he stated in the post.
Kennedy also criticized the current regulatory measures, especially the excessive restrictions on cryptocurrency under the Biden administration. He stated at the Bitcoin conference in July this year, "I will end the Biden administration's war on Bitcoin." He advocates for a more open regulatory environment to guide innovation and maintain America's competitive edge in the global financial landscape.
