Author: shaofaye123, Foresight News

It has been only two weeks since Trump's election, and his 2.0 cabinet lineup has already been nominated. Among its members, not only are there Bitcoin believers, but also Altcoin and Dogecoin supporters. This article will give you a quick overview of Trump's 2.0 lineup and their cryptocurrency stance.

The new President Trump himself owns over $5 million in cryptocurrencies. According to Arkham data, Donald Trump currently holds $5.4 million in cryptocurrencies, with his largest holding being ETH, holding 495.664 ETH, worth about $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).

2.0 Cabinet Lineup

On November 23, Trump announced that he will nominate former White House aide Brooke Rollins as Secretary of Agriculture. With this, Trump's 2.0 cabinet has been fully assembled, with the speed and efficiency of this nomination drawing attention from the outside world.

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

The members of Trump's 2.0 cabinet and the 1.0 version can be said to have vastly different styles, from financial tycoons to medical geniuses to news anchors. Compared to the "Dream Team", this update seems to be even more eye-catching. Among the 25 members of the 2.0 cabinet (excluding Trump), a significant number are crypto-friendly, and to varying degrees, they all hold supportive attitudes towards cryptocurrencies, with some even publicly disclosing their cryptocurrency holdings.

Vice President J.D. Vance: A Staunch Crypto Supporter

J.D. Vance, born in 1984, is a writer and venture capitalist. As a rising star in American politics, he is poised to become the second youngest Vice President in US history this year, with only two years of political experience. Vance's upbringing was quite tumultuous, with a complex family background - his mother struggled with drug and alcohol abuse for a long time, and he was raised by his grandparents. After graduating from high school, Vance joined the US Marine Corps and even participated in the Iraq War. After retiring, he studied at Ohio State University and Yale Law School, earning bachelor's degrees in political science and philosophy, as well as a law degree.

Vance is widely known for his bestselling book "Hillbilly Elegy", which not only brought him fame but is also considered one of the key works behind Trump's 2016 election victory. In 2022, Vance won the Ohio Senate seat with his positive stance on cryptocurrencies, advocating for a more lenient policy on digital asset regulation. This year, he has drafted a series of guidelines for the crypto industry, including supporting the repeal of SAB-121 accounting standards and legislative bills to reform digital asset regulation. Currently, Vance's draft has already gained the support of 71 Democratic House members and is expected to be formally submitted soon.

Vance has a very friendly attitude towards crypto, publicly mentioning cryptocurrencies on multiple occasions. When opposing the Canadian authorities' move to freeze the bank accounts of pandemic control drivers, he stated, "This is why cryptocurrencies are thriving - if your political views are wrong, the regime will cut off your access to banking services." In February this year, he also raised questions when the SEC took enforcement action against the crypto mining company Debt Box.

Vance's most recent disclosure shows that as of 2022, J.D. Vance owns between $100,001 and $250,000 worth of Bitcoin, which he holds through Coinbase. Vance also has accounts set up with Robinhood and Charles Schwab, but has not disclosed the details of his holdings there.

The New "Finance Guru" is a Crypto Enthusiast

Treasury Secretary Scott Basset

The Treasury Department is the economic governance center of the US government. It is a department that oversees various brokerage affairs, responsible for financial affairs management, policy formulation, and financial regulation.

Scott Basset, as a hedge fund tycoon and a celebrity in the New York financial circle, is a disciple of George Soros. His personal experience is quite legendary - he worked for George Soros 30 years ago; in 1992, he was instrumental in the collapse of the British pound, making over $1 billion. In 2015, he left to found Key Square Group, which at its peak managed over $5 billion in assets.

He is the first Treasury Secretary nominee to openly support cryptocurrencies. In interviews, he does not hesitate to express his love for cryptocurrencies, stating, "Cryptocurrencies are very much in line with the Republican spirit." "Cryptocurrencies represent freedom, and the crypto economy is an irreversible trend." However, it is unfortunate that Basset has not yet publicly disclosed any records of his cryptocurrency holdings.

Commerce Secretary Howard Lutnick

The US Department of Commerce is primarily responsible for trade and investment, export control, semiconductor chip research and artificial intelligence, as well as coastal fisheries and patents. It also oversees the Census Bureau, National Weather Service, and National Oceanic and Atmospheric Administration. It plays a leading role in economic policy, international trade, and high-tech development. For cryptocurrencies, he determines the future policy direction and resource allocation of the US in this emerging field.

Commerce Secretary Lutnick, a Jewish financier, was a major donor to Trump's campaign. Born in 1961, Lutnick graduated from Hofstra University and previously worked at Cantor Fitzgerald, becoming its CEO. Since 2021, Cantor Fitzgerald has been engaged in cryptocurrency-related business, helping Tether manage the US Treasury portfolio that supports its USDT stablecoin. Recently, it has also announced a Bitcoin financing business, which will provide leverage for Bitcoin investors, with an initial capital of up to $2 billion. After being nominated as Commerce Secretary by Trump, he plans to transfer his company's Tether business relationship to his son Brandon Lutnick.

He also has a very positive attitude towards cryptocurrencies, "We have the largest capital markets and the strongest financial system. If we don't take the lead in driving widespread adoption of cryptocurrencies, we will lose this advantage." As a super fan of Bitcoin, Lutnick has publicly supported Bitcoin's development on many occasions. At the 2024 Bitcoin Conference, he stated, "Bitcoin and gold are the same. Bitcoin should be traded globally, without exception, just like gold." "Bitcoin is the future of the economy!"

In a recent interview with Professional Capital Management founder Anthony Pompliano, Lutnick revealed, "I own hundreds of millions of dollars worth of Bitcoin, and I expect this number to reach tens of billions soon."

Other Crypto-Friendly Members

In addition, members of the cabinet in other departments also hold some cryptocurrencies:

• National Security Advisor Mike Waltz has also publicly disclosed that he holds Bitcoin. His 2023 filing shows that Waltz owns between $50,000 and $100,000 in Bitcoin.

• Director of National Intelligence Tulsi Gabbard was also revealed in the second half of 2017 to hold between $1,000 and $15,000 in Litecoin and between $1,000 and $15,000 in Ethereum.

• Health and Human Services Secretary Robert Francis Kennedy Jr. has also stated that he will invest most of his wealth in cryptocurrencies and claimed to be a staunch supporter of Bitcoin.

Musk as the Right-Hand Man

The Department of Government Efficiency (D.O.G.E.) is a new initiative proposed by Trump. Its main goal is to reduce the federal budget deficit and improve the efficiency and effectiveness of government operations. The two nominees for this department both have a deep connection with cryptocurrencies.

Co-Leader of the Department of Government Efficiency Elon Musk

The concept of the Department of Government Efficiency (DOGE) originated from a discussion between Elon Musk and Donald Trump, where Musk proposed the idea of establishing a streamlined government efficiency department. Musk was appointed by Trump as the co-leader of the "Department of Government Efficiency," with the department's abbreviation matching the code of Dogecoin (DOGE), making him the most suitable person to convey the crypto spirit. Musk and Ramaswamy will collaborate with the Office of Management and Budget (OMB) to address the "massive waste and fraud" issues in government spending.

Elon Reve Musk, born in South Africa, is undoubtedly an outstanding businessman, known for his key roles in the space company SpaceX and the automotive company Tesla, Inc. He also owns the company X Corp, which operates the social media platform X (formerly Twitter). As of November 2024, Forbes estimates his net worth to be $304 billion. As a key member of the Trump camp, he has publicly supported Trump on multiple occasions, and his tweets have had a significant impact on cryptocurrencies, with PAC, PNUT, and WOULD, among others, having seen hundredfold increases under his influence.

In terms of crypto assets, according to Arkham Intelligence, Tesla holds 11,509 BTC, worth approximately $1.1 billion, while Musk "still holds a large amount of Dogecoin" personally.

Co-Leader of the Department of Government Efficiency Vivek Ramaswamy

Vivek Ramaswamy, born in Cincinnati, Ohio, was once a "young Indian prodigy," holds a Juris Doctor from Yale Law School, and is a genius in the pharmaceutical industry, having founded the American pharmaceutical company Roivant Sciences in 2014. He later entered the American political arena and even ran for president this year as a Republican, having a quite legendary experience.

In terms of cryptocurrencies, he is very optimistic. Not only has he claimed to hold digital assets himself, but he has also publicly supported crypto compliance. At the 2023 Miami Bitcoin Conference, he even announced that he would accept cryptocurrency donations for his campaign. At Messari's Mainnet conference, he also actively expressed his forward-looking views on cryptocurrencies and unveiled an upcoming cryptocurrency policy blueprint. In early November, he announced that his asset management company Strive will include Bitcoin in its clients' investment portfolios.

Conclusion

However, just because Trump has completed the nominations does not mean these cabinet members can immediately take office. They still need to be approved by the Senate before they can start their jobs. But under normal circumstances, the likelihood of Trump's cabinet list being approved by the Senate is quite high.

In this 2.0 update, from the economy to policies, various departments seem to be particularly friendly to the crypto industry, but the road to regulation and compliance is still long. With the approval of ETFs, interest rate cuts and massive liquidity injections, as well as the completion of the "crypto dream team" assembly, we believe we can witness the arrival of the golden age of cryptocurrencies together.