90% Of Donald Trump’s Net Worth Is Now In Crypto — What It Means For The Industry ⋆ ZyCrypto
The post 90% Of Donald Trump’s Net Worth Is Now In Crypto — What It Means For The Industry ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     It has been brought to light that more than 90% of incoming U.S. president Donald Trump’s wealth is in crypto assets, including the red-hot $TRUMP token. Former Coinbase CTO Balaji Srinivasan and general partner at venture capital firm Andreessen Horowitz weighed in on the potential implications of this development. “First Crypto President” Balaji Srinivasan noted in a Jan. 19 post on X that President-elect Donald Trump is the “first crypto president”. According to Balaji, Trump, like many early holders who witnessed meteoric changes to their personal wealth, went from crypto being just 1% of his wealth to a staggering 90%. “Overnight, the vast majority of the net worth ($59B) of the next President of the United States is now held in cryptocurrency. This will hold true even with a 90% drop,” the former Coinbase CTO opined. While other celebrity meme coins have quickly crashed to zero, Balaji believes this will not be the case with the $TRUMP meme coin due to Trump’s vast online presence, “presidential immunity”, his massive influence over the government, and “daily non-stop coverage.” Advertisement   “Every politician, influencer, and celebrity worldwide is watching mouth agog at the phenomenon. They’ll wait to see how it shakes out politically and financially, and if the memecoin shows staying power — big if! — they may do their own,” he continued. Srinivasan further suggested that any criticism from Washington might prompt Trump to “legalize cryptocurrency in the most aggressive way possible” in a bid to protect his own digital wealth. Although some have accused Trump of greed with the meme coin launch, Balaji suggested that it was no different from how other prominent public figures have profited over time, citing that “Biden took 10% for the big guy, and Pelosi traded her stocks, and Hillary monetized her…
Filed under: News - @ January 20, 2025 6:29 pm