Trump’s $29.6 Billion Net Worth Tied to Crypto, Reveals Hoskinson   

• Charles Hoskinson claims that 78.5% of Trump’s $29.6 billion net worth is in cryptocurrencies strengthening the stance of the sector. 
• The TRUMP meme coin hit an $8 billion market cap within hours, raising questions about the morality given Trump’s upcoming inauguration. 
• The policies set by Trump concerning cryptocurrency could change the way taxes and markets are evaluated, and how regulation is done in the cryptocurrency industry. 

Cardano co-founder Charles Hoskinson recently revealed that 78.5% of President-elect Donald Trump’s net worth is denominated in cryptocurrencies. This translates into a whopping $29.6 billion putting Trump in the list of the most powerful people in the cryptocurrency industry. This realization was revealed by Hoskinson on X, Twitter’s successor, and can be seen to have implications for the digital assets market. 

The recognition of cryptocurrency, which is one of Trump’s major interests, by the IRS could result in a number of changes in the tax codes regarding virtual currencies. He said that these kinds of advancements may affect the legal framework that is around cryptocurrencies and may form the future of the industry. 

TRUMP Memecoin Takes the Spotlight 

Donald Trump’s launch of the TRUMP meme-coin has further solidified his presence in the crypto space. The meme coin achieved an extraordinary market capitalization of $8 billion within hours of its release. Trump’s company, CIC Digital LLC, reportedly owns 80% of the meme coin’s supply, making it a lucrative venture. 

Additionally, the TRUMP memecoin rally has driven notable activity in the Solana ecosystem, pushing the price of SOL to new all-time highs. This surge reflects growing speculative interest and highlights the broad appeal of meme-coins in expanding market participation. 

Eric Trump Highlights Memecoin Success 

Eric Trump has lauded the swift success of the TRUMP meme-coin, describing it as “the hottest digital meme on earth.” He pointed to its rapid market cap growth as a sign of its overwhelming popularity. The launch’s timing has sparked debates over ethical considerations, with critics questioning the propriety of introducing a profitable product while preparing for the presidency. 

Ripple Lawyer Comments on Regulatory Impact

Ripple lawyer Bill Morgan weighed in on the implications of Trump’s crypto ventures. He noted that the promotion of the TRUMP meme coin might complicate regulatory cases, including the ongoing SEC lawsuit against Ripple and XRP. Morgan highlighted that Trump’s position could challenge the SEC’s approach to regulating speculative digital assets. 

Morgan also suggested that Trump’s presidential immunity might shield him from direct scrutiny, raising questions about the need for robust crypto regulations. Moreover, Trump’s administration is expected to redefine digital asset policies, potentially influencing the outcome of high-profile cases like Ripple’s.