"Cryptocurrency Map" of Trump's New Government Members: An Overview of Core Decision Makers' Cryptocurrency Holdings and Policy Positions

Author: Weilin, PANews

Before winning the 2024 U.S. presidential election, Trump made a clear promise to promote pro-cryptocurrency policy positions. Now, as the list of new government members is gradually revealed, the crypto movements of these members have quickly attracted market attention.

This article will review the cryptocurrency holdings and policy positions of eight new members of Trump's government, from Vice President JD Vance to Secretary of Health and Human Services Robert F. Kennedy Jr. Among these core decision-makers, some have directly invested in crypto assets, while others have expressed support for 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 on the matter. His position is very pro-cryptocurrency, specifically reflected in the following aspects: First, he supports the pro-crypto House Joint Resolution SAB 121.

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 U.S. Securities and Exchange Commission (SEC) for its handling of the DEBT Box case, accusing its actions of being unethical and unprofessional. On June 20, 2024, Vance expressed strong support for cryptocurrency and shared a post about making cryptocurrency donations for Trump.

In fundraising, Vance received support from Bitcoin supporter Peter Thiel through a Super PAC.

On social media, Vance frequently shares his positive 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 Soros' team, publicly supports Bitcoin and the crypto economy

No public cryptocurrency holding declaration records. 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' team, pushing bets against the pound's collapse, earning the firm over $1 billion in profits. He left in 2015 to found Key Square Group, which at its peak managed over $5 billion in assets.

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 will endure," he stated in a July interview with Fox Business. "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, promotes pro-crypto policies

Holding Situation: Last year's declaration records show that in 2023, Waltz held between $50,000 and $100,000 in Bitcoin.

Crypto Position: Michael Waltz, a former Republican Congressman from Florida, has shown strong support for cryptocurrency, making several important statements regarding it: voting in favor of the pro-crypto FIT21 bill, voting in support of the pro-crypto House Joint Resolution SAB 121, and co-sponsoring 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 promotion of CBDC

Holding Situation: 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 held 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 government initiative to strengthen control over the public, undermining the decentralized nature of cryptocurrencies like Bitcoin.

Co-Leader of the Department of Efficiency Elon Musk: Supporter of Bitcoin and Dogecoin

Holding Situation: Early this year, Musk stated in an X Space that "I still hold a lot of Dogecoin, and SpaceX also holds a lot of Bitcoin." As of November 21, Arkham Intelligence reported that Tesla holds 11,509 BTC, valued at 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 public supporter of cryptocurrency.

He is a co-leader of the newly established "Department of Efficiency," appointed by Trump, which has the same abbreviation as Dogecoin (DOGE). Musk often expresses his 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, has provided custodial services for Tether for years

Holding Situation: Lutnick recently revealed in an interview with Professional Capital Management founder Anthony Pompliano, "I own Bitcoin worth hundreds of millions, 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 bonds backing its USDT stablecoin since 2021. Cantor Fitzgerald 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 Efficiency Vivek Ramaswamy: Former candidate accepting cryptocurrency donations, his company includes Bitcoin in its portfolio

Since Ramaswamy was not previously a congressman, he is not required to publicly disclose his cryptocurrency holdings. However, this billionaire businessman has been an active supporter of cryptocurrency, and reports suggest he personally holds digital assets.

For example, this former Republican presidential candidate announced two years ago at the 2023 Bitcoin conference in Miami that he would accept cryptocurrency donations for his campaign.

Ramaswamy has 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 Biden administration's regulatory measures

Robert Kennedy Jr has no public cryptocurrency holding declaration records, but this well-known Bitcoin supporter and former presidential candidate recently stated that he invests most of his wealth in cryptocurrency and has made several public statements about it. In a public event in November, Kennedy stated, "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 all in."

This member, who is set to join Trump's government, also 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 exit from the disaster of national debt," he stated in the post.

Kennedy also criticized the current regulatory measures, particularly the excessive restrictions on cryptocurrency under the Biden administration. At the Bitcoin conference in July this year, he stated, "I will end the Biden administration's war on Bitcoin." He advocates for a more open regulatory environment to guide innovation and maintain the U.S. competitive advantage in the global financial landscape.