Author: Weilin, PANews
Before winning the 2024 U.S. election, Trump explicitly promised to promote pro-cryptocurrency policy positions. Now, as his new government members' list is gradually revealed, the crypto movements of these members have quickly attracted market attention.
This article will summarize the cryptocurrency holdings and policy positions of eight 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 their supportive stance toward the crypto industry through policies and statements.
Vice President J.D. Vance: Holds hundreds of thousands of dollars in Bitcoin, strongly supports cryptocurrency.
Holding Situation: Documents submitted to the U.S. Congress on August 13, 2024, show that Vance disclosed holding Bitcoin valued at between $100,000 and $250,000.
Crypto Position: JD Vance has been a staunch supporter of cryptocurrency and has made several important statements regarding it. His stance is very pro-cryptocurrency, specifically reflected in the following aspects: first, supporting the pro-crypto SAB 121 House joint resolution.
Secondly, in terms of statements and actions, on July 13, 2023, Vance proposed a bill aimed at protecting cryptocurrency companies from banking regulatory pressure, advocating for more politically neutral oversight. On February 8, 2024, he, along with several Republican senators, criticized the SEC's handling of the DEBT Box case, accusing its actions of being unethical and unprofessional. On June 20, 2024, Vance expressed strong support for cryptocurrency, sharing posts about making cryptocurrency donations for Trump.
In fundraising, Vance received support from Bitcoin supporter Peter Thiel through Super PAC funding.
On social media, Vance has also frequently shared his positive views on cryptocurrency on platforms such as X (formerly Twitter), including a tweet on February 15, 2022, discussing the rise of cryptocurrencies 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.
No public cryptocurrency holding disclosure records. Bessent runs the macro investment company Key Square Group. He worked for the renowned investor George Soros 30 years ago. In 1992, Bessent became a key member of Soros's team, pushing to bet against the British pound collapse, earning over $1 billion for the firm. He left in 2015 to establish Key Square Group, managing over $5 billion in assets at its peak.
Today, Bitcoin and the entire cryptocurrency space 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 is going to be around for a long time,' he said in an interview with Fox Business Channel this July. 'Cryptocurrency appeals to 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 pro-crypto policies.
Holding Situation: Last year's disclosure records show that in 2023, Waltz held 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 in the cryptocurrency space, making several important statements about cryptocurrency: voting in favor of the pro-cryptocurrency FIT21 bill, voting in favor of the pro-cryptocurrency SAB 121 House joint resolution, and co-sponsoring the CBDC Anti-Surveillance National Act, which focuses on opposing the use of central bank digital currencies (CBDCs) as surveillance tools.
Director of National Intelligence Tulsi Gabbard: Holds a small amount of Litecoin and Ethereum, opposes government promotion of CBDCs.
Holding Situation: In the second half of 2017, held between $1,000 and $15,000 worth of Litecoin and between $1,000 and $15,000 worth of Ethereum.
Crypto Position: Although Gabbard stated in her last disclosure in 2019 that she no longer held cryptocurrencies, she has consistently criticized government initiatives that infringe on financial privacy and autonomy.
She believes that the push for central bank digital currencies (CBDCs) is part of a broader effort by the government to strengthen control over the public, undermining the decentralized nature of cryptocurrencies like Bitcoin.
Co-leader of the Office of Government Efficiency Elon Musk: Supporter of Bitcoin and Dogecoin.
Holding Situation: An early year's X Space showed that Musk had said, 'I still hold a large amount of Dogecoin, and SpaceX also holds a large amount of Bitcoin.' As of November 21, Arkham Intelligence reported that Tesla holds 11,509 BTC, valued at about $1.11 billion.
Crypto Position: Although not a member of Trump's cabinet, Musk is undoubtedly closely associated with the Trump camp and is at least publicly a supporter of cryptocurrency.
He is a co-leader of the newly established 'Office of Government Efficiency,' appointed by Trump, which has the same abbreviation as the Dogecoin (DOGE) code. Musk often expresses support for Dogecoin, calling it 'the people's cryptocurrency,' influencing its market value.
Secretary of Commerce Howard Lutnick: Holds hundreds of millions of dollars in Bitcoin, has provided custodial services for Tether for many years.
Holding Situation: Lutnick recently revealed in an interview with Professional Capital Management founder Anthony Pompliano, 'I own Bitcoin worth hundreds of millions of dollars, and 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 securities backing 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 Office of Government Efficiency Vivek Ramaswamy: Was a candidate who accepted cryptocurrency donations, and his company is incorporating Bitcoin into its portfolio.
Since Ramaswamy was not previously a congressman, he does not need to publicly disclose his cryptocurrency holdings. However, this billionaire businessman has actively supported cryptocurrencies, and reports indicate that he personally holds digital assets.
For instance, this former competitive Republican presidential candidate announced two years ago at the Bitcoin conference in Miami in 2023 that he would accept cryptocurrency donations for his campaign.
Ramaswamy also emphasized the need for clear regulation of cryptocurrencies. He criticized the current regulatory approach of agencies like the SEC, calling it 'enforcement-based regulation,' and advocated for the creation of a framework that promotes innovation while ensuring consumer protection.
Additionally, Ramaswamy's Strive Asset Management (managing $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 Biden administration's regulatory measures.
Robert Kennedy Jr. does not have publicly available cryptocurrency disclosure records, but this well-known Bitcoin supporter and former presidential candidate recently stated that he would invest most of his wealth in cryptocurrencies and has made several public statements regarding cryptocurrencies. Young Kennedy stated at a public event in November: 'I am a firm 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 will soon 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 national debt disaster,' he stated in the post.
Kennedy has also criticized current regulatory measures, especially the excessive restrictions on cryptocurrencies under the Biden administration. He stated at this year's Bitcoin conference in July: 'I will end the Biden administration's war on Bitcoin.' He advocates for establishing a more open regulatory environment to guide innovation and maintain U.S. competitiveness in the global financial landscape.
