Key Points
- Donald Trump’s association with cryptocurrencies and the impact on the market.
- Investigation into Trump family’s crypto holdings and potential interest in Binance.
President Donald Trump’s involvement in cryptocurrency projects and his holdings, including those of Trump-backed World Liberty Financial, have been a topic of discussion in the cryptocurrency sector. As his administration shifts towards a pro-crypto stance, many crypto companies with ties to Trump are set to benefit.
Trump’s Crypto Ventures and the TRUMP Meme Coin
Trump, the 45th and 47th President of the United States, made headlines by launching an official meme coin three days before taking office. This, along with his NFT collection and pro-crypto administration, has kept the crypto market engaged.
A wallet associated with Trump was identified by Arkham Intel, and its holdings align with Trump’s financial disclosures during his 2024 presidential campaign. Although it was clear that Trump held Ethereum (ETH) in his crypto wallet, the purchase date and average price remain unknown.
The Arkham Intel wallet currently contains $1.437 million worth of crypto, including meme coins, stablecoins, tokens like Polygon (MATIC), and World Liberty Financial’s WFI token. Trump’s foray into crypto also includes the launch of an official meme coin, TRUMP, and an NFT collection, Official Trump Digital Trading Cards (TRUMP). Despite facing criticism from crypto analysts and experts, he claimed this as his official meme coin.
World Liberty Financial and Potential Market Rally
The Trump family, including First Lady Melania Trump, Donald Trump Jr., Ivanka Trump, Eric, and Barron Trump, hold crypto tokens. Melania Trump holds the meme coin MELANIA (MELANIA), launched by her company MKT World LLC. The coin has faced criticism for potentially undermining the dignity of the president and the first lady.
World Liberty Financial, a Trump family-owned business, holds top five tokens including Ethereum, staked Ether (stETH), Move (MOVE), Tron (TRX), and WhiteRock (WHITE). With the Trump administration’s pro-crypto stance and regulatory changes, these tokens could potentially benefit in the long term.
Trump’s Connection with PayPal Mafia and Crypto
The term “PayPal mafia” was coined by author Jimmy Soni in his book, “The Founders: The Story of PayPal and the Entrepreneurs Who Shaped Silicon Valley.” Prominent figures from this group associated with Trump include David Sacks, Elon Musk, and Peter Thiel. Sacks, the AI & Crypto Czar in Trump’s administration, is a long-time Solana bull. PayPal plans to make payments on Solana through its PYUSD stablecoin.
Ethereum’s Potential Revival
Ethereum’s drop below the $1,800 support has led many to declare the token dead. However, with Ethereum being the highest-valued holding in WLF’s crypto wallet, a recovery might be on the horizon. Ethereum’s core objectives continue to guide its development as it prepares for further adoption.
Trump Family’s Interest in Binance
The Wall Street Journal reported that the Trump family is considering buying a stake in Binance, the world’s largest centralized crypto exchange. However, Binance’s founder and former CEO, Changpeng Zhao, has denied these allegations.
