President-elect Donald Trump holds $9M of Crypto
United States President-elect Donald Trump holds over $9 million worth of cryptocurrency and tokens, it has been claimed.
Trump holds over $9 million of digital assets with 81% of this being on the Etheruem (ETH) network, blockchain analytics service Arkham Intelligence data shows.
What coins does Trump hold?The top asset held by the president-elect is Trog (TROG), a Trump-related memecoin. Trump’s holdings of TROG are worth over $3.22 million at the time of writing. These tokens were transferred to the address back in June, presumably as a marketing strategy.
The second highest-value asset in the next United States president’s publicly-known addresses is Ethereum. His wallets contain 495,665 ETH worth $1.64 million at the time of writing as well as 478,787 Wrapped Ethereum (WETH) worth $1.59 million — for a total of $3.23 million. Wrapped Ethereum is Ethereum that has been tokenized to be better suited for some decentralized finance (DeFi) applications.
The next highest-value asset in Trump’s portfolio is the Maga (TRUMP) memecoin. His stack of over 579,000 tokens is worth in excess of $1 million.
The Republican candidate’s victory in the United States presidential elections triggered a major crypto bull run. The world’s biggest cryptocurrency Bitcoin (BTC) has recently reached a new all-time high of nearly $100,000 after rallying nearly non-stop ever since the elections.
Trump promised to lead the U.S. in the adoption of crypto-friendly regulation and to place pro-cryptocurrency officials in the Securities and Exchange Commission (SEC). The regulator is also expected to see the President appoint a crypto-friendly official to take the chairman seat currently occupied by Gary Gensler.
This follows Gensler taking what many perceived as persecutory actions against the crypto industry. This recently led Republican state attorney generals and a crypto advocacy group to file a lawsuit against the SEC and its commissioners.
Trump will also be the first United States president personally involved in a crypto project in the DeFi industry. Last month Trump announced the sale of World Liberty Financial (WLF), serving as the utility token to his family’s decentralized finance (DeFi) platform. The initiative aims to create an instance of the Aave (AAVE) DeFi protocol on the Ethereum (ETH) platform.
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