Charles Hoskinson Reveals Donald Trump Holds 78.5% of His Net Worth In Crypto

Charles Hoskinson, co-founder of Cardano, recently revealed that 78.5% of President-elect Donald Trump’s net worth, estimated at $29.6 billion, is tied to cryptocurrencies. This revelation places Trump among the world’s richest cryptocurrency entrepreneurs. This statement coincides with Trump’s launch of the TRUMP memecoin, a controversial move that caught the attention of the cryptocurrency community.

Cardano co-founder Charles Hoskinson reveals Donald Trump’s cryptocurrency fortune

Recently Share on XCharles Hoskinson has revealed that a large portion of Donald Trump’s wealth is invested in cryptocurrencies. According to Hoskinson, this amounts to 78.5% of Trump’s estimated net worth of $29.6 billion. This discovery makes Trump one of the most prominent figures in the cryptocurrency space.

Hoskinson noted that Trump’s broad involvement in cryptocurrencies could lead to noticeable changes in the sector. His administration may redefine the IRS’s policies on taxing capital gains and assessing the fair market value of digital assets. These expected changes could shape the regulatory framework for the cryptocurrency industry.

Charles Hoskinson added,

“The nice part of Trump’s vast newfound wealth will be changes in the IRS’ interpretation of capital gains and fair market value of cryptocurrencies.”

It is worth noting, Eric Trump also commented on Trump’s quick assessment of the memecoin, heralding it as “the hottest digital meme on Earth.” He highlighted the rapid increase in its market value to more than $5 billion within one day of its launch as evidence of its popularity.

Trump Memecoin Gains $8 Billion in Hours Before Inauguration

Meanwhile, Donald Trump’s launch of the TRUMP memecoin has added further curiosity to his financial relationship with the world of cryptocurrencies. The meme accumulated $8 billion in market capitalization within hours of its release. Trump’s company, CIC Digital LLC, reportedly owns 80% of the coin’s supply, making it a profitable venture.

Furthermore, the rise of the Trump meme coin is the main driver of the push SOL price to new all time Elevations. This increase highlights the growing interest in speculation and expands market participation within the Solana ecosystem. The broad appeal of memecoins contributes to the cryptocurrency’s strong valuation.

The rise of the meme currency coincides with Trump’s imminent inauguration as president. However, the timing has raised ethical concerns, with critics questioning the suitability of the president-elect to offer a profitable product while preparing to take office.

Ripple lawyer Bill Morgan comments on Trump’s cryptocurrency project

Additionally, Ripple’s attorney, Bill Morgan, commented on how Trump’s promotion of the Trump meme may impact the ongoing legal and regulatory battles. Morgan argued Trump’s involvement in promoting speculative digital assets could complicate the SEC’s legal approach, particularly in its case against Ripple and Ripple.

Morgan noted that Trump’s “presidential immunity” may protect him from regulatory scrutiny. However, this raises broader questions about the need for strong cryptocurrency regulations. Trump’s actions, coupled with his administration’s policy changes, will likely shape digital asset oversight moving forward.

Ripple’s lawyer also added that the appeal against Judge Torres’ decision is promising given the president’s view on token issuance without after-sales obligations. Morgan argued that Ripple’s sales of XRP similarly lack such obligations. This perspective may reinforce Ripple’s decision to pursue a cross-appeal.

the @ripple Judge Torres’s appeal against Ripple’s defense that there must be a contract or post-sale obligations sounds good.

After all, the President of the United States of America believes that a token can be issued without after-sales obligations to buyers and promoted without being… https://t.co/OByrCesd8j

– Bill Morgan (@Belisarius2020) January 18, 2025

As Trump prepares to take office, his cryptocurrency-focused agenda could redefine the sector’s regulatory environment and impact ongoing legal cases such as the SEC’s lawsuit against Ripple.

It is worth noting that Charles Hoskinson recently announced upgrades to Cardano lace walletIn order to expand its functions. These improvements will support its growth and solidify its position as a leading cryptocurrency wallet in the industry.

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Ronnie Mugendi

Ronnie Mugende is an experienced cryptocurrency journalist with four years of professional experience, and has contributed significantly to various media outlets on cryptocurrency trends and technologies. With more than 4,000 articles published across various media, it aims to inform, educate and introduce more people to the world of Blockchain and DeFi. Outside of his journalism career, Ronnie enjoys the thrill of riding a bike and exploring new trails and landscapes.

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