Trump’s Potential Cabinet Picks Reveal Cryptocurrency Investments
Several of President Donald Trump’s potential cabinet nominees have reported significant cryptocurrency holdings in recent financial disclosures. These disclosures, required as part of the nomination process, show that some of Trump’s picks—who could soon lead key federal agencies—hold sizable stakes in Bitcoin, as well as various other digital assets. Here is a closer look at their declared portfolios and planned divestments.
Cabinet Nominees and Their Crypto Holdings
Sean Duffy: Department of Transportation
Sean Duffy, a former U.S. Representative from Wisconsin, has emerged as one of the more prominent Bitcoin holders among Trump’s potential cabinet members. According to his ethics filing, Duffy owns between $500,000 and $1 million worth of Bitcoin in his personal wallets, plus an additional $50,000 to $100,000 in Fidelity’s spot Bitcoin exchange-traded fund (ETF). He also holds Solana, Litecoin, and Lido Staked Ether, bringing his total crypto investment to somewhere between about $570,000 and $1.2 million. Prior to his nomination, Duffy served as a consultant for the trading platform Robinhood.
Scott Bessent: Department of Treasury
Scott Bessent, founder of the hedge fund Key Square Group, is Trump’s pick to head the Department of Treasury. His financial disclosure indicates holdings worth $250,000 to $500,000 in BlackRock’s spot Bitcoin ETF. According to his ethics agreement, Bessent plans to divest these Bitcoin holdings if confirmed. He was chosen over Howard Lutnick, CEO of Cantor Fitzgerald, a firm that helps manage Tether’s reserve assets.
John Ratcliffe: Central Intelligence Agency
John Ratcliffe, a former Texas congressman and former Director of National Intelligence, has no significant personal crypto holdings. However, his disclosure shows that starting in October 2023, he served on the advisory board of Paradigm, a major crypto-focused venture capital firm, earning $160,000 in advisory fees. Ratcliffe intends to step down from this role if confirmed.
Tulsi Gabbard: Director of National Intelligence
Tulsi Gabbard, a former Democratic congresswoman from Hawaii who joined the Republican Party in 2024, also declared notable crypto investments. She holds between $15,000 and $50,000 in Bitcoin through her Crypto.com wallet, plus an equivalent amount in Bitwise’s spot Bitcoin ETF. In addition, her portfolio includes Solana, Cronos, and Ether, bringing her estimated crypto holdings to between $31,000 and $115,000. Gabbard plans to divest these assets following her confirmation.
These disclosures illustrate the growing interest in digital currencies among political leaders and nominees for top federal posts. While some nominees plan to divest their cryptocurrency holdings, others appear poised to maintain a stake in the market. As confirmation processes move forward, these financial disclosures may offer insights into how the incoming administration could approach cryptocurrency oversight and policy.