Uncovering Trump 2.0 Cabinet Members: Over 5 Are "Crypto Traders"
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Uncovering Trump 2.0 Cabinet Members: Over 5 Are "Crypto Traders"
After the lineup is complete, Bitcoin reaching 100,000 is just around the corner.
Navigating Web3 tides with focused insightsBy shaofaye123, Foresight News
Just two weeks after Donald Trump's election victory, his Cabinet for a potential second term—referred to as "Trump 2.0"—has been fully nominated. Among the nominees are not only Bitcoin believers but also supporters of altcoins and Dogecoin. This article provides a quick overview of Trump’s 2.0 Cabinet and their stances on cryptocurrency.
President-elect Trump himself holds over $5 million in cryptocurrency. According to Arkham data, Donald Trump currently owns $5.4 million worth of digital assets. His largest holding is ETH, with 495.664 ETH valued at approximately $1.7 million. His top five holdings also include WETH (about $1.64 million), TRUMP (about $1 million), TROG (about $400,000), and GUA (about $150,000).
Overview of the Trump 2.0 Cabinet
On November 23, Trump announced he would nominate former White House aide Brooke Rollins as Secretary of Agriculture. With this nomination, the formation of Trump’s 2.0 Cabinet was completed—an unusually swift and efficient process that has drawn widespread attention.
The full list of Trump’s Cabinet nominees (some subject to Senate confirmation). Image source: Political News
The composition of Trump’s 2.0 Cabinet differs significantly from his first-term lineup. From financial titans to medical prodigies and media personalities, this new team appears even more striking than the so-called "Dream Team." Of the 25 Cabinet members (excluding Trump himself), a significant number are crypto-friendly, expressing varying degrees of support for digital assets—with some having publicly disclosed their crypto holdings.
Vice President J.D. Vance: A Staunch Crypto Supporter
J.D. Vance, born in 1984, is an author and venture capitalist. A rising star in American politics, he may become the second-youngest Vice President in U.S. history despite having only two years of political experience. Vance had a difficult upbringing marked by family instability and his mother’s struggles with drugs and alcohol; he was raised primarily by his grandparents. After high school, he joined the U.S. Marine Corps and served in Iraq. Following his military service, he earned a bachelor’s degree in political science and philosophy from Ohio State University and later obtained a law degree from Yale Law School.
Vance gained national fame through his bestselling memoir *Hillbilly Elegy*, which not only elevated his public profile but is also considered one of the key cultural works contributing to Trump’s 2016 election win. In 2022, Vance won a seat in the U.S. Senate representing Ohio, largely due to his pro-crypto stance, advocating for lighter regulation of digital assets. This year, he drafted a series of legislative proposals supporting the crypto industry, including efforts to repeal SAB-121 accounting rules and reform digital asset regulations. His draft legislation has already secured co-sponsorship from 71 Democratic House members and is expected to be formally introduced soon.
Vance has consistently expressed strong support for cryptocurrencies. During Canada’s controversial freezing of bank accounts belonging to truckers protesting pandemic mandates, he remarked, “This is exactly why cryptocurrencies are flourishing. If your political views are deemed incorrect, the government can cut off your access to banking services.” In February, when the SEC launched enforcement actions against crypto mining company Debt Box, Vance questioned the agency’s approach.
The most recent disclosure of Vance’s financial holdings shows that as of 2022, J.D. Vance owned between $100,001 and $250,000 worth of Bitcoin, held via Coinbase. He also maintains accounts with Robinhood and Charles Schwab, though specific holdings have not been disclosed.
The New 'Money Boss' Is a Die-Hard Crypto Fan
Treasury Secretary Scott Bessent
The Department of the Treasury serves as the central hub of economic governance in the U.S. federal government, overseeing fiscal policy, financial regulation, and macroeconomic strategy.
Scott Bessent is a legendary hedge fund manager and prominent figure in New York finance, known as a protégé of George Soros. Three decades ago, he worked under Soros and played a pivotal role in the 1992 bet against the British pound, earning over $1 billion and achieving global recognition. In 2015, he founded Key Square Group, which at its peak managed over $5 billion in assets.
Bessent is the first publicly pro-crypto nominee for Treasury Secretary in U.S. history. In interviews, he has openly expressed enthusiasm for cryptocurrencies, stating, “Cryptocurrency aligns perfectly with Republican values.” “Crypto represents freedom, and the crypto economy is an irreversible trend.” However, there are currently no public disclosures of Bessent’s personal cryptocurrency holdings.
Commerce Secretary Howard Lutnick
The U.S. Department of Commerce plays a critical role in trade and investment, export controls, semiconductor research, artificial intelligence, coastal fisheries, and patent administration. It oversees agencies such as the Census Bureau, the National Weather Service, and the National Oceanic and Atmospheric Administration (NOAA). The department exerts significant influence over economic policy, international trade, and technological advancement—making it a key determinant of future U.S. policy direction and resource allocation in emerging fields like cryptocurrency.
Howard Lutnick, a Jewish-American financier and major donor to Trump’s campaign, was born in 1961 and graduated from Hofstra University. He previously served as CEO of Cantor Fitzgerald, where since 2021 the firm has engaged in crypto-related operations—including helping Tether manage the U.S. Treasury bonds backing its USDT stablecoin. Recently, the company announced a new Bitcoin financing initiative offering leveraged funding up to $2 billion for Bitcoin investors. Following his nomination as Commerce Secretary, Lutnick plans to transfer oversight of the company’s Tether-related business to his son, Brandon Lutnick.
Lutnick maintains a strongly positive view of cryptocurrencies: “We have the world’s largest capital markets and strongest financial system. If we don’t lead in adopting crypto broadly, we will lose that advantage.” A self-proclaimed superfan of Bitcoin, Lutnick has repeatedly voiced support for its development. At the 2024 Bitcoin Conference, he declared, “Bitcoin is the same as gold. Bitcoin should be traded like gold—globally, without exception.” “Bitcoin is the economy of the future!”
In a recent interview with Anthony Pompliano, founder of Professional Capital Management, Lutnick revealed, “I own hundreds of millions of dollars’ worth of Bitcoin, and I expect that number to reach billions very soon.”
Other Crypto-Friendly Cabinet Members
In addition, several other Cabinet nominees hold or support cryptocurrencies:
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National Security Advisor Mike Waltz has publicly disclosed owning Bitcoin. His 2023 financial disclosure showed holdings between $50,000 and $100,000 in Bitcoin.
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Director of National Intelligence Tulsi Gabbard was reported in late 2017 to hold between $1,000 and $15,000 in Litecoin and between $1,000 and $15,000 in Ethereum.
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Secretary of Health and Human Services Robert F. Kennedy Jr. has stated he intends to invest most of his wealth in cryptocurrencies and identifies as a committed supporter of Bitcoin.
Musk: The Right-Hand Man
The Department of Government Efficiency (D.O.G.E.), a new initiative proposed by Trump, aims to reduce the federal budget deficit and improve the efficiency and effectiveness of government operations. Both individuals nominated to lead this department have deep ties to the cryptocurrency world.
Co-Leader of D.O.G.E.: Elon Musk
The concept of the Department of Government Efficiency (DOGE) originated from a discussion between Elon Musk and Donald Trump, during which Musk suggested creating a streamlined government efficiency unit. Trump appointed Musk as a co-leader of this new “Department of Government Efficiency,” whose acronym coincidentally matches the ticker symbol of Dogecoin (DOGE)—a fitting nod to crypto culture. Musk and Vivek Ramaswamy will work alongside the Office of Management and Budget (OMB) to address what they describe as “massive waste and fraud” in government spending.
Elon Reeve Musk, born in South Africa, is an undisputed business visionary best known for leading SpaceX and Tesla, Inc., and for owning X Corp., the company operating the social media platform X (formerly Twitter). As of November 2024, Forbes estimates his net worth at $304 billion. A key ally of Trump, Musk has frequently endorsed him publicly. His tweets have had notable impacts on cryptocurrency markets, driving tokens like PAC, PNUT, and WOULD to surge over 100x in value.
Regarding crypto holdings, Arkham Intelligence data indicates that Tesla holds 11,509 BTC, valued at approximately $1.11 billion, while Musk personally “still holds a large amount of Dogecoin.”
Co-Leader of D.O.G.E.: Vivek Ramaswamy
Vivek Ramaswamy, born in Cincinnati, Ohio, was once hailed as a “prodigy from India,” earning a law degree from Yale. A pharmaceutical industry innovator, he founded Roivant Sciences in 2014. He later entered politics and ran for president this year as a Republican candidate, marking another chapter in his remarkable career.
Ramaswamy is highly optimistic about cryptocurrencies. He has not only confirmed his personal ownership of digital assets but has also advocated for regulatory compliance in the sector. At the 2023 Miami Bitcoin Conference, he announced he would accept cryptocurrency donations for his presidential campaign. At Messari’s Mainnet conference, he delivered forward-looking remarks on crypto and unveiled a forthcoming blueprint for national crypto policy. In early November, he announced that his asset management firm Strive would begin including Bitcoin in client portfolios.
Conclusion
While Trump has completed his nominations, these Cabinet members cannot take office immediately—they must first be confirmed by the Senate. However, under normal circumstances, Trump’s nominees are highly likely to be approved.
This 2.0 Cabinet update signals strong support for the crypto industry across economic and policy domains. Yet, the path toward comprehensive regulation and compliance remains long. With the approval of spot Bitcoin ETFs, anticipated interest rate cuts, and the formation of what some call a “crypto dream team,” we may indeed be on the cusp of witnessing the dawn of a golden age for cryptocurrency.
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