Jessy, Golden Finance

Trump’s official inauguration is getting closer. It also nominated its favorite new cabinet members. There is no doubt that Trump, and some of his Cabinet nominees, are crypto-friendly.

It is precisely thanks to Trump’s encryption friendliness and the interest rate cuts in the United States that the encryption industry has officially ushered in a bull market.

For example, as WLIF, a project that is highly tied to the Trump family, continues to buy tokens such as AAVE, LINK, and ENA, these tokens have experienced very considerable increases.

The next market trend has become very clear. As the supervision of encryption in the United States gradually becomes clearer, DeFi-related projects will become one of the main lines of the next bull market. The Trump family’s projects continue to bet on DeFi projects, which is also a manifestation of this trend.

As mentioned above, the "21st Century Financial Innovation and Technology Act" is likely to be passed. After the bill is passed, it will clearly define when cryptocurrency is a commodity or security. If the bill makes it clear that the relevant tokens are judged to be Those that are decentralized and functional are considered digital commodities and are not subject to SEC supervision, and they can be exempted from the exemption period if they meet the centralization requirements, which will encourage DeFi projects to evolve in a more decentralized direction. In addition, the bill requires the SEC and CFTC to study the development of DeFi, assess its impact on traditional financial markets and potential regulatory strategies, which will attract more DeFi projects to "return" to the United States and promote the prosperity and development of the DeFi market.

It is based on this regulatory change in the United States that DeFi has become an important narrative in this bull market.

As for Trump’s related projects, including Trump’s cabinet members, which projects are they buying and which projects are they supporting? What does this portend for the future development of encryption?

Trump:

His business involvement in encryption

WLFI:

World Liberty Financial (WLFI) is an encryption project endorsed by the Trump family and will be officially launched on September 16, 2024. Trump calls himself the Chief Crypto Advocate of the World Liberty Financial project.

Trump’s two eldest sons, Donald Jr. and Eric Donald, jointly serve as Web 3 ambassadors for World Liberty Financial, and his 18-year-old youngest son Barron Trump Barron Trump is World Liberty Financial’s DeFi visionary(DeFi visionary).

In the project’s white paper, it is stated that Trump will occasionally promote the project. In return, Trump's company will also receive 75% of the project's revenue.

The project mainly focuses on the construction of lending services, such as a credit account system based on the Aave and Ethereum blockchain, and also has a decentralized cryptocurrency trading venue. The project’s governance token is WLFI.

Currently, the project is still in the public sale stage, with 1/4 of the tokens sold, and US$75 million has been raised.

WLFI is also constantly purchasing tokens from other projects. In the past period, its purchase status is as follows:

ETH: In the past A total of US$30 million was spent to purchase 8,105 ETH within 12 days, with an average price of US$3,701.

AAVE: Bought 6,137 AAVE at an average price of $324.

LINK: Bought 78,387 LINK at an average price of US$25.5.

ENA: Special purchase of 509,955 ENAs at an average price of approximately US$0.981.

Ondo: Bought 134,216 ONDO tokens at an average price of approximately $1.86.

CB BTC: Purchased 103 CB BTC at a unit price of US$97,181

WLFI bought basically DeFi-related projects, which also demonstrates the ambition of the WLIF project. It also wants to build an on-chain lending platform, including an on-chain trading platform. The tokens it purchased include stablecoins, mortgage lending, RWA, oracles, and encapsulated Bitcoin projects, basically covering all DeFi on the chain.

With Trump taking office and the gradual clarification of US regulations, DeFi will most likely usher in a stage of vigorous development.

2. Business layout in other encryption fields

Companies owned by the Trump family are also actively developing encryption business. For example, the Trump family owns the cryptocurrency exchange "World Free Finance", the social platform "Truth" under its name has submitted an application to create an encryption payment service called "truthfi", and it also plans to acquire the encryption service company Bucket. These business layouts All are closely related to virtual currencies.

Trump’s cryptocurrency holdings:

According to the holdings of Trump’s wallet, it can be found that the token with the largest holdings by Trump is TROG. Is a Meme Coin, ETH ranks second in its portfolio, with over 495 ETH worth $1.99 million. In addition, he holds over 478 WETH worth $1.93 million.

Some M in his walletEme Coin, such as Trump, is basically airdropped, while Ethereum is derived from the donations it received during the presidential campaign, as well as the commission income from the sale of its related NFT, including some shares of WLFI sales.

Trump’s wallet also contains mainstream tokens like Matic, but the source is uncertain.

In terms of money, Trump wants to build the United States into a crypto-friendly country, starting with using Bitcoin as a reserve, and then establishing a series of regulations that will help the development of the encryption industry.

Members of Trump’s cabinet are mostly crypto-friendly, or they themselves hold cryptocurrencies.

Crypto holdings of Trump’s cabinet members

Trump’s cabinet includes 15 cabinet ministers and some cabinet-level officials, numbering around 20 people.

Among these 20 people, there are at least six crypto-friendly people, and many of them have publicly stated that they hold cryptocurrency. These people are:

David Sacks

He was appointed by Trump as the head of artificial intelligence and cryptocurrency affairs in the White House, and also serves as chairman of the President's Science and Technology Advisory Committee.

He has a very positive attitude towards encryption. The venture capital company Craft Ventures he founded has made many investments in the field of cryptocurrency, covering infrastructure, CeFi, DeFi, NFT and other fields, including dydx and Lightning. Labs and other projects.

As the White House director of artificial intelligence and cryptocurrency affairs, Sachs will help lead the implementation of Trump’s campaign promise to deregulate the cryptocurrency industry, and he will work with cryptocurrency advocates as a cryptocurrency advocate. Direct contacts between the White House, as well as between Trump, Congress and federal agencies dealing with digital assets, promote the development and implementation of relevant regulations and strive for a friendlier space for the cryptocurrency industry.

Currently, according to public information, it holds at least Bitcoin and Solana.

Bitcoin: In 2012, David Sachs began investing in Bitcoin and adopted a "set and forget" long-term holding strategy. He saw Bitcoin as a hedge against fiat currency inflation and censorship. Tool 2.

Solana: In October 2021, David Sachs revealed in a podcast that he holds a large amount of Solana. Even after the FTX collapse triggered turmoil in the crypto market in 2022, he never sold his Solana holdings and firmly believed in its potential to surpass Ethereum in the future.

Robert Kennedy Jr.

Nominated by Trump as Secretary of the U.S. Department of Health and Human Services.

He believes that cryptocurrencies are a good way to hedge against inflation and believes that Bitcoin is the "perfect base currency". He hopes that the United StatesTo become the center of global cryptocurrency, a series of proposals have been put forward, such as exempting Bitcoin from capital gains tax when converting to US dollars, and using hard assets such as Bitcoin to support the US dollar. He also intends to promote budget transparency. He plans to put the entire U.S. budget on the blockchain to increase budget transparency and accountability, allowing every American to view budget items at any time and prevent corruption and misuse of funds. .

It was disclosed that Robert Kennedy Jr.’s family trust holds Bitcoins worth between $100,000 and $2.5 million. He himself also purchased 21 Bitcoins during the campaign and used them for his campaign. Each child purchased 3 Bitcoins, showing support for the cryptocurrency through actual investment.

Howard Lutnick

Nominated by Trump as the U.S. Secretary of Commerce. If the nomination is confirmed, he will also be directly responsible for the relevant work of the Office of the U.S. Trade Representative. .

He believes that Bitcoin has the value of decentralization and is the only asset that no one can take away. He also advocates that Bitcoin should be treated as a commodity, similar to gold and oil.

Lutnick is a staunch supporter of the stablecoin Tether. His subsidiary Cantor Fitzgerald not only holds undisclosed shares of Tether, but is also responsible for managing Tether’s huge reserve assets, most of which are in the form of U.S. Treasury bonds. Form exists.

On July 27, 2024, at the Bitcoin 2024 conference in Nashville, Tennessee, Lutnick announced the launch of a $200 million Bitcoin loan program for people who own Bitcoin lever.

Tulsi Gabbard

Nominated by Trump for Intelligence Director.

In 2019, Tulsi Gabbard signed a bill aimed at preventing the U.S. Securities and Exchange Commission from regulating cryptocurrency. She believed that the bill would protect investors, promote innovation, and provide Its regions bring more diverse business opportunities and promote the development of the United States in the field of digital economy.

In 2023, Tulsi Gabbard publicly criticized Biden’s exploration of central bank digital currencies at the Bitcoin 2023 conference. She believed that central bank digital currencies would record transaction information and increase the visibility of ordinary Americans. Surveillance risks, thereby threatening people’s freedoms and economic autonomy.

She emphasized that Bitcoin, as a decentralized cryptocurrency, has the characteristics that it cannot be manipulated by third parties and can retain the privacy and freedom of cash transactions in the digital world. Therefore, she believes that Bitcoin and other Cryptocurrency has positive implications for social development.

According to public documents in December 2017, it holds Ethereum and LTC worth $1,000 to $15,000. It is unclear whether it still holds it.

Summary

Trump is the first person to openly support the encryption industryThe President of the United States not only actively or passively holds crypto assets, but his business territory is also actively involved in the crypto field. From selling NFT in the early years, to currently working on DeFi projects and acquiring exchanges. Trump has become increasingly involved in the crypto industry.

Not only is it deeply involved in the encryption industry in the business sector, but after becoming president, the U.S. strategic Bitcoin reserve will most likely come true. In addition, it will promote encryption legislation, relax supervision, and It can be seen that the establishment of specialized institutions and positions for encryption will better coordinate the relationship with the encryption industry, and will also enable the encryption industry to have laws to follow and develop in a relatively relaxed environment.

The cabinet members selected by Trump are basically crypto-friendly representatives. Although the SEC Chairman Paul Atkins he chose has no public information showing that he holds virtual currency assets. But in fact, staunch supporters of cryptocurrencies are expected to review many of the rules and court enforcement actions under Gensler after taking office, adopt a softer attitude towards cryptocurrencies, and seek rules aimed at promoting capital formation. changes to create a more favorable regulatory environment for the crypto industry.

Some cabinet members, even though their nominated positions are not related to the economy, have clearly expressed their support for encryption. As the creator of , only by actually holding virtual currency can we formulate a truly crypto-friendly .

Currently, based on the positions held by Trump and some cabinet members and the expansion of the cryptographic territory, it can be seen that the United States may invest more in the DeFi track.