Trump’s $1 Million Cryptocurrency Portfolio | Crypto4Harris

Former president owns more than $1 million in crypto, according to recent disclosures.

START INVESTING • Newsletters • MyForbes

Nina Bambysheva Staff Writer, Forbes Money & Markets
Follow me on X and Forbes

Steven Ehrlich Director, Forbes Digital Assets
Follow me on X and Forbes

TRUMP’S FINANCIAL DISCLOSURES: BIBLES AND CRYPTO

Former President Donald Trump owns more than $1 million in cryptocurrency and earned $300,000 from branded Bibles, according to a personal financial disclosure form released on Thursday.

The disclosure details a cryptocurrency wallet and “virtual ethereum key” holdings valued between $1 million and $5 million. Trump’s stance on crypto has evolved since he took office, when he initially labeled digital currencies a scam. He has since adopted a more laissez-faire approach—the shift followed industry lobbying and indications that support for the sector resonated with a segment of Trump’s base.

TOP DEMOCRATS JOIN “CRYPTO4HARRIS” CALL

On Wednesday evening, leading Democrats participated in a “Crypto4Harris” virtual town hall to express support for the digital asset sector and Vice President Kamala Harris’ campaign. Senate Majority Leader Chuck Schumer expressed optimism that the Senate could pass a bipartisan crypto regulation bill by year-end, offering renewed hope to an industry long mired in legislative uncertainty. The event also featured billionaire Mark Cuban, New York Senator Kristen Gillibrand and Michigan Senator Debbie Stabenow, who chairs the Senate Agriculture Committee, where a bipartisan crypto bill is currently under review.

Harris has also enlisted three campaign advisors with crypto expertise: Gene Sperling, a former Ripple Labs board member; Brian Nelson, who regulated cryptocurrencies to prevent illicit use as Under Secretary of the Treasury for Terrorism and Financial Intelligence; and David Plouffe, a former senior adviser to President Obama who served on the Binance Global Advisory Board and as a global strategic adviser for Alchemy Pay.

BREAKING: Legacy Pass is Live – Apply Now!

Discover the Forbes Legacy Pass, an exclusive membership for Web3 creators and entrepreneurs.

With only 1,917 passes available, members gain access to unique benefits including their name in Forbes, voting rights for the Forbes Web3 list, support for projects, curated drops, premium newsletters, and VIP event tickets.

Apply Now

CURRENT PRICE OF TOP 5 COINS (7-Day % Change)

Coin

Price

Percent Change

Bitcoin (BTC)

$59,299

2.3%

Ether (ETH)

$2,611

0.8%

Tether (USDT)

$1.00

0.0%

Binance Coin (BNB)

$522

2.7%

Solana (SOL)

$141

8.6%

Sources: Forbes Digital Assets, CoinGecko. Prices as of 5:02 p.m. on August 16, 2024.

BITCOIN ETF OPTIONS PROPOSALS

Regulatory filings submitted on August 14 and 15 reveal that the New York Stock Exchange (NYSE) American and Nasdaq International Securities Exchange (ISE) have withdrawn their proposals for rule changes related to listing options on bitcoin exchange-traded funds (ETFs). Nasdaq ISE retracted its requests to list and trade options on shares of bitcoin and ether trusts, while NYSE American withdrew its requests to list and trade options on the Bitwise Bitcoin ETF, the Grayscale Bitcoin Trust (BTC), and any trust holding bitcoin. These withdrawals follow the US Securities and Exchange Commission’s (SEC) July statements indicating a need for more time to review the proposals.

Analysts view these withdrawals as a positive step towards an agreement between the exchanges and the SEC on listing crypto ETF options. “There’s definitely some movement on Bitcoin ETF options,” Bloomberg Intelligence analyst James Seyffart noted on X. “The SEC likely provided some feedback.” Currently, U.S. investors can trade options on ETFs that track bitcoin’s performance using derivatives, but not on ETFs that physically hold the cryptocurrency.

ELSEWHERE

The Unraveling Of A Crypto Dream

The New York Times