Cardano $1.0Charles Hoskinson, co-founder of , announced that 78.5% of the net worth of recently elected US President Donald Trump is tied to cryptocurrencies. This large share of crypto among Trump’s estimated $29.6 billion fortune makes him one of the richest crypto entrepreneurs globally.
Trump’s Crypto Investments May Affect the Industry
Hoskinson stated that Trump’s intense interest in cryptocurrency could lead to significant changes in the industry. The Trump administration is expected to redefine IRS policies on capital gains taxation and the fair market value of digital assets.
“Trump’s new large crypto fortune will lead to changes in the IRS’s interpretation of capital gains and the fair market value of cryptocurrency.”
Donald Trump’s launch of the TRUMP memecoin caught the attention of the crypto community. Meme coin reached a market cap of $8 billion within hours of its launch. Trump’s company, CIC Digital LLC, owns 80% of the coin’s supply, making the venture profitable.
Charles Hoskinson announced updates aimed at expanding functionality for the Cardano Lace Wallet. These improvements will support the growth of the wallet, positioning it as a leading crypto wallet in the industry. The rise of the TRUMP memecoin is driving Solana (SOL) prices to all-time highs. The broad appeal of meme coins is expanding participation in the Solana ecosystem, increasing speculative interest in the crypto market.
Statements of Ripple Lawyer
Ripple 
$3.1 attorney Bill Morgan weighed in on how Trump’s promotion of the TRUMP memecoin could impact ongoing legal and regulatory battles. Morgan argued that Trump’s involvement in the promotion of a speculative digital asset could complicate the SEC’s legal approach, particularly in the SEC case against Ripple and XRP.
Morgan noted that Trump’s presidential immunity could protect him from regulatory scrutiny, but this raises the need for strong crypto regulations. Trump’s actions and his administration’s policy changes could shape crypto asset oversight in the future.
Morgan added that the appeal against Judge Torres’ decision is promising because Trump’s view of issuing tokens without post-sale obligations, similar to Ripple’s XRP sales, could support the company’s decision to proceed with a cross-appeal.
Trump’s high investment in cryptocurrencies may have the potential to reshape the regulatory framework in the crypto sector.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
