- Several members of Trump’s cabinet are investing in cryptocurrencies.
- Financial disclosure statements show the extent of candidates’ holdings.
- Trump’s pick for key intelligence position loves altcoins.
When Donald Trump holds his first Cabinet meeting as president, he will be surrounded by officials he has handpicked to lead the executive branch of government.
Many of them will be crypto bulls.
As part of the nomination process, potential Trump Cabinet members must submit financial disclosures.
Not every candidate has released one, but disclosures show that several top candidates, including two tapped to head the US intelligence community, are interested in cryptocurrencies.
Here’s the rundown:
Sean Duffy
The largest Bitcoin holder among candidates who have made public financial disclosures is Sean Duffy, Trump’s nominee for Secretary of Transportation and former U.S. House representative from Wisconsin.
He has $500,000 to $1 million worth of bitcoin in his own wallet, as well as $50,000 to $100,000 in Fidelity’s bitcoin exchange-traded fund, according to his statements. Revealing morals.
He also holds Solana, Litecoin, and Lido Staked Ether in his personal cryptocurrency wallet. In total, his cryptocurrency assets range between about $570,000 and about $1.2 million.
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Duffy was an advisor for Robinhood, a trading platform that also allows users to buy and sell cryptocurrencies.
Scott Besant
The SEC is not the only agency that regulates cryptocurrencies. The same applies to the Ministry of Treasury.
Trump’s nominee for Treasury Secretary is Scott Bessent, founder of KeySquare Group, a hedge fund based in South Carolina and New York City.
Besant got Trump’s blessing over Howard Lutnick, CEO of Cantor Fitzgerald, a New York-based financial services firm.
Cantor helps manage Tether’s reserves of US government debt that backs USDT, Tether’s stablecoin.
Besant is out supports Bitcoin, and has between $250,000 and $500,000 in BlackRock’s Bitcoin exchange-traded fund, according to his statements. Revealing morals.
However, Besant plans to divest his Bitcoin holdings after his confirmation, according to him Ethics agreement.
John Ratcliffe
Trump’s pick to head the CIA does not have any significant cryptocurrency holdings.
However, John Ratcliffe, a former congressman from Texas and former Director of National Intelligence, is no stranger to cryptocurrencies.
Starting in October 2023, he served on the advisory board of Paradigm, one of the largest venture capital firms in the cryptocurrency space, according to him. Revealing morals.
He received a fee of $160,000 for his work as a consultant, and plans to step down from the position after his confirmation, according to his statements. Ethics agreement.
Tulsi Gabbard
Tulsi Gabbard, a former Democratic congresswoman from Hawaii, switched to the Republican Party in 2024.
She quickly won Trump’s support and is his nominee for the position of Director of National Intelligence.
Among the recent members of Trump’s cabinet with revealed cryptocurrency holdings, Gabbard is considered a crypto-omnivore.
Not only does she have between $15,000 and $50,000 worth of Bitcoin inside her crypto.com wallet, they also hold the same amount in Bitwise’s spot Bitcoin ETF.
In addition, Gabbard owns significant amounts in Solana, Cronos, and Ether. In total, her cryptocurrency holdings are valued at between $31,000 and $115,000, according to her. Revealing morals.
She plans to divest her cryptocurrency holdings after her confirmation, according to her Ethics agreement.
Ben Weiss is a DL News correspondent in Dubai. Got a tip? Email at bweiss@dlnews.com.
