70 Trump administration officials held crypto investments, as the crypto market rallies under a pro-industry administration.
By Parth Dubey
Editor Hamza Tariq
Updated
2 mins read
A Washington Post report shows that around 70 officials in the Trump administration held crypto assets or investments in blockchain firms at the time of their appointments. This reflects how digital assets have become an important aspect of power in Washington.
As per the report, these stakes ranged from small wallets to holdings exceeding $120 million, with President Trump himself reporting at least $51 million in crypto-related assets through ventures like World Liberty Financial.
Vice President JD Vance and seven Cabinet members reported over $2 million in crypto holdings. Treasury Secretary Scott Bessent and top national security officials, including Defense Secretary Pete Hegseth and DNI Tulsi Gabbard, also reported crypto investments.
More than a dozen key regulators, including figures overseeing the mortgage giants Fannie Mae and Freddie Mac, reported digital assets holdings.
By comparison, the Biden administration had no reported crypto holdings at the Cabinet level, suggesting a stark shift under Trump’s leadership.
Meanwhile, David Bailey’s hedge fund, 210k Capital, posted a 640% return over the past year by investing in public companies that pivoted to Bitcoin BTC $120 272 24h volatility: 1.6% Market cap: $2.39 T Vol. 24h: $50.63 B treasuries. Bailey is an industry insider known for converting Trump from a crypto skeptic to an industry champion.
Trump’s pro-crypto stance has resulted in a boom, with his allies among the largest beneficiaries of the market’s rally.
Bloomberg reports that The Smarter Web, one of 210k Capital’s bets, gained 14,000% since February, highlighting Bailey’s unconventional strategy that has outperformed direct Bitcoin exposure.
Meanwhile, the U.S. House passed three landmark crypto bills this week in what is being dubbed “Crypto Week.” The GENIUS Act, establishing a stablecoin framework, passed 308–122 and awaits President Trump’s signature.
The CLARITY Act, defining SEC and CFTC oversight boundaries for crypto, passed 294–134, while the Anti-CBDC Surveillance State Act passed 219–210, aiming to block a Federal Reserve-issued digital dollar.
Supporters believe these bills will enhance legal clarity for the crypto industry and attract institutional capital. The crypto market has recorded positively to these regulatory progress, with top meme coins recording double weekly digit gains.
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A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.