Written by: shaofaye123, Foresight News

Only two weeks have passed since Trump was elected, and his 2.0 cabinet team Nominations have been completed. Among its members are not only Bitcoin believers, but also altcoin and Dogecoin supporters. This article will give you a quick overview of the Trump 2.0 team and its stance on cryptocurrency.

New President Trump himself owns more than $5 million in cryptocurrency. According to Arkham data, Donald Trump currently holds $5.4 million in cryptocurrency, and his largest holding is ETH, holding 495.664 ETH, about $1.7 million. Its top five holdings also include: WETH (approximately $1.64 million), TRUMP (approximately $1 million), TROG (approximately $400,000), and GUA (approximately $150,000).

2.0 Overview of Cabinet List

On November 23, Trump announced that he would nominate former White House aide Brooke Rollins as Secretary of Agriculture. At this point, the Trump 2.0 cabinet has been formed. The speed and efficiency of this nomination have attracted the attention of the outside world.

The above is the complete list of Trump’s cabinet (some positions require Senate confirmation) Source: Political Participation News

It can be said that Trump 2.0 cabinet members have very different styles from those of version 1.0, from financial giants to medical geniuses to news Anchor, compared to the "Dream Team", this update seems to be more eye-catching. Among the 25 members of the 2.0 version of the cabinet (except Trump), a large proportion are crypto-friendly. They all support cryptocurrencies to varying degrees, and some have disclosed their crypto asset positions.

Vice President J.D. Vance: A staunch supporter of encryption

J.D. Vance, born in 1984, is a writer and venture capitalist. As a rising star in American politics, he is expected to become the second youngest vice president in American history with two years of experience this year. J.D. Vance's upbringing was quite rough, with a complicated family background. His mother had been troubled by drugs and alcohol for a long time, and he was raised by his grandparents. Vance joined the U.S. Marine Corps after high school and served in the Iraq War. After retiring, heHe studied at Ohio State University and Yale Law School, receiving bachelor's degrees in philosophy and philosophy and a doctorate in law respectively.

Vance is best known for his best-selling book "Hillbilly Elegy," which not only made him famous but also considered Trump's One of the key works of Trump's 2016 election victory. In 2022, Vance won a seat in the Ohio U.S. Senate for his aggressive stance on cryptocurrencies, advocating for looser regulation of digital assets. This year, he has drafted a series of guidelines for the crypto industry, including support for the repeal of SAB-121 accounting standards, draft legislation to reform digital asset regulation, and more. Currently, Vance's draft has received the support of 71 Democratic House members and is expected to be formally submitted soon.

J.D. Vance has a very friendly attitude towards cryptocurrencies and has mentioned them publicly many times. When he opposed the Canadian authorities’ ban on bank accounts of drivers to control the epidemic, he said, “This is why cryptocurrency is booming. If you have the wrong point of view, the regime will cut off your access to banking services.” In February this year, at the SEC’s investigation into cryptocurrency miners He also raised questions when the company Debt Box launched an enforcement action.

J.D. Vance’s most recently disclosed holdings show that as of 2022, J.D. Vance owns Bitcoin worth $100,001 to $250,000 and holds these assets through Coinbase . J.D. Vance also has accounts on Robinhood and Charles Schwab but did not disclose details of its holdings.

The new "God of Wealth" is Treasury Secretary Scott Bessant, a die-hard cryptocurrency fan.

The Department of the Treasury is the center of economic governance in the United States. A department in charge of major brokerage affairs, responsible for financial affairs management, brokerage formulation, financial supervision, etc.

Scott Bessent, as a hedge fund tycoon, in the New York financial circle Celebrity, disciple of Soros. His personal experience is quite legendary. He once worked for George Soros 30 years ago; in 1992, he promoted the collapse of the pound and became famous in one battle, earning more than 1 billion US dollars. In 2015, he left his job and founded Key Square Group, with assets under management exceeding US$5 billion at its peak.

He is the first U.S. Treasury Secretary nominee to openly support cryptocurrency. In an interview, he has never been shy about his love for cryptocurrency. He said, "Cryptocurrency is very much in line with the spirit of the Republican Party." "Cryptocurrency represents freedom, and the crypto economy is an irreversible trend." Unfortunately, there is no Besson yet. Specially publicly disclosed cryptocurrency holdings declaration records.

Secretary of Commerce Howard Lutnick

The U.S. Department of Commerce is mainly responsible for trade and investment, export control, semiconductor chip research and artificial intelligence, as well as coastal fisheries and patents. In addition, oversees the Census Bureau, Weather Bureau, and Oceanic and Atmospheric Administration. It plays a leading role in the development of economy, international trade and high technology. For cryptocurrency, it determines the future direction and resource allocation of the United States in this emerging field.

Commerce Secretary Lutnick, Jewish financier, Trump campaign Big benefactor. Lutnick was born in 1961 and graduated from Hofstra University. He worked at Cantor Fitzgerald and became its CEO. Cantor Fitzgerald has had a cryptocurrency-related business since 2021, helping Tether manage the inventory of U.S. Treasury bonds that back its USDT stablecoin. Recently, a Bitcoin financing operation was also announced that will provide leverage to Bitcoin investors with initial capital of up to $2 billion. He plans to hand over the company's Tether business ties to his son, Brandon Lutnick, after being nominated by Trump to be Commerce Secretary.

His attitude towards cryptocurrency is also very positive. "We have the largest capital market and the strongest financial system. If we do not take the lead in promoting the widespread use of cryptocurrency, If it is applied, this advantage will be lost. "As a super fan of Bitcoin, Lutnick has supported the development of Bitcoin in public on many occasions. At the 2024 Bitcoin Conference, he said, "Bitcoin and gold are the same. Bitcoin should be traded like gold - globally, without exception." "Bitcoin is the economy of the future!"

Lutnick recently took a position in Professional Capital Management founder Anthony Pompliano revealed in the interview, "I own hundreds of millions of dollars worth of Bitcoin, and I expect this number will soon reach billions."

Other crypto-friendly people

In addition, cabinet members from other departments also hold some cryptocurrencies:

Security consultant Mike Walz has also publicly disclosed his Bitcoin holdings . 2023 filing records show Walz owned between $50,000 and $100,000 in Bitcoin.

Intelligence Director Tulsi Gabbard was also disclosed in the second half of 2017 that she held between US$1,000 and US$15,000 in Litecoin and $1,000 to $15,000 Ethereum.

Health and Human Services Secretary Robert Kennedy Jr has also said that he will invest most of his wealth in cryptocurrency, claiming that he is Strong supporter of Bitcoin.

Right-hand man Musk

The Department of Government Efficiency (D.O.G.E) is a new initiative proposed by Trump. Its main goals are to reduce the federal budget deficit and improve operational efficiency and effectiveness. Both of its nominated candidates have a deep connection with cryptocurrency.

Elon Musk, co-leader of the Department of Efficiency

The concept of the Department of Efficiency (DOGE) originated from the relationship between Elon Musk and Donald Trump During a discussion, Musk proposed the idea of ​​setting up a streamlined efficiency department. Musk was appointed by Trump to become the co-leader of the "Department of Efficiency". The abbreviation of the department is the same as the code for Dogecoin (DOGE). It is most appropriate for him to convey the encryption spirit. Musk and Ramaswamy will work with the Office of Management and Budget (OMB) to address "massive waste and fraud" in spending.

Elon Reeve Musk was born in South Africa and is undoubtedly a A prominent businessman known for his key roles in space company SpaceX and car company Tesla, Inc., he also owns X Corp, which operates the social media platform X (formerly Twitter). As ofIn November 2024, Forbes estimated his net worth at $304 billion. As a key member of the Trump camp, he has publicly supported Trump many times. His tweets have an important impact on cryptocurrencies. PAC, PNUT, WOULD, etc. have all increased a hundred times due to his influence.

In terms of crypto assets, according to Arkham Intelligence, Tesla holds 11,509 BTC, worth approximately US$1.11 billion, while Musk personally "still holds Lots of Dogecoin”.

Vivek Ramaswamy, Co-Leader of Efficiency Department

Vivek Ramaswamy was born in Cincinnati, Ohio, and was once an "Indian "Jie Qing", a doctor of law from Yale University and a genius in the pharmaceutical industry, founded the American pharmaceutical company Roivant Sciences in 2014. Later, he entered the American political arena and participated in this year's presidential election as a Republican. He has a quite legendary experience.

He is very optimistic when it comes to cryptocurrency. Not only does he claim to hold digital assets himself, he has also publicly supported crypto compliance. It was also announced at Bitcoin Conference Miami 2023 that it would be accepting cryptocurrency donations for its campaign. At Messari’s Mainnet conference, he also actively expressed his forward-looking views on cryptocurrency and announced the upcoming cryptocurrency blueprint. In early November, he announced that his asset management firm Strive would include Bitcoin in clients’ portfolios.

Conclusion

However, after Trump completes the nomination, it does not mean that these cabinet members can take office immediately. They must wait for approval by the Senate before they can take office. But under normal circumstances, Trump’s cabinet list is highly likely to be approved by the Senate.

In this 2.0 update, various departments from the economy to the economy seem to be particularly friendly to the encryption industry, but there is still a long way to go in terms of supervision and compliance. With the passage of ETFs, interest rate cuts, and the completion of the formation of the “crypto heaven group,” I believe we can witness the arrival of the golden age of encryption together.