1 in 5 Senior Officials in the U.S. Trump Administration Hold Virtual Assets…Trump Holds ₩70 Billion

As the Trump administration actively pursues legislation related to cryptocurrencies, it has been revealed that more than 1 in 5 senior officials in the Trump administration possess cryptocurrencies.

According to a report by The Washington Post (WP) on the 17th (local time), a review of financial disclosure statements from approximately 300 senior officials in the Trump administration found that about 70 of them either held cryptocurrencies or invested in cryptocurrency and blockchain companies. Particularly, more than one-third of cabinet members possessed virtual assets.

Senior officials in the Trump administration reported a total of at least $193 million (₩268.6 billion) in virtual assets, and President Trump himself held $51 million (₩7.09 billion) in virtual asset-related holdings. Vice President J.D. Vance's virtual asset holdings stood at $250,000.

Among senior officials, Ken Howery, the U.S. Ambassador to Denmark, held virtual assets valued at $120 million (₩167 billion), the largest among those surveyed.

No officials in the Biden administration cabinet reported virtual asset holdings in their final financial disclosures, and, according to WP, no other president has ever owned virtual assets.

Those who reported holding virtual assets were individuals who supported Trump in last year's U.S. presidential election and were nominated as leaders in the technology and cryptocurrency industries. WP noted that their emergence exemplifies how the fate of the cryptocurrency and technology industries shifted during the Trump administration.

WP also added, "President Trump is establishing clear regulations for digital financial technologies and taking measures to position the U.S. as a global leader in the digital asset economy."

Jang Jimin, Hankyung.com Correspondent newsinfo@hankyung.com