President Donald Trump, upon taking office in January, made a commitment to transform the United States into the global hub for cryptocurrency. Since then, he has effectively mobilized various segments of the federal government to support the burgeoning industry, resulting in significant financial gains for his family’s business interests. Current estimates suggest that cryptocurrency ventures constitute nearly 40% of the Trump Organization’s net worth, which stands at $2.9 billion. Trump’s advocacy for the crypto sector has also proven advantageous for many prominent figures in the industry, who have experienced increased profits and enhanced political influence, while inquiries into alleged misconduct initiated by former President Joe Biden’s administration have largely dissipated.
Notable Figures in the Crypto Sector
Here, we delve into some leading personalities in the cryptocurrency realm and their connections to Trump:
Justin Sun
Justin Sun, a crypto entrepreneur hailing from China and the founder of the Tron cryptocurrency platform, gained notoriety for purchasing a piece of conceptual art—a banana taped to a wall—for an impressive $6.2 million, only to eat it shortly afterward. Sun has emerged as a key investor in Trump’s meme coin, $Trump, and played a prominent role at a recent crypto dinner hosted at Trump’s golf course near Washington, D.C. He shared a video showcasing his receipt of a $100,000 gold watch awarded by the meme coin to its top investors. Sun has also touted his close relationship with the White House, sharing posts in Chinese on X that highlight his connections to Trump and the meme coin. Under the Biden administration, Sun faced legal action from the Securities and Exchange Commission for allegedly attempting to manipulate crypto prices, although this investigation has been paused since Trump assumed office. Additionally, Sun was an early significant investor in World Liberty Financial, a crypto project launched by Trump and his sons in September. Notably, Trump’s latest financial disclosure indicates he earned over $57 million from World Liberty Financial last year, which has introduced USD1, a stablecoin tied to the U.S. dollar.
Michael Saylor
Michael Saylor, co-founder and chairman of Strategy—formerly known as MicroStrategy—is a well-known advocate for Bitcoin. He possesses a yacht that once made an appearance on the television show “Entourage,” and his firm is recognized as a leading Bitcoin treasury company, primarily focused on acquiring and holding Bitcoin. Strategy currently boasts ownership of over 2% of all Bitcoin in circulation and continues to expand its holdings. Saylor’s ties to Trump are evident through Trump Media, the parent company of Truth Social, which has announced plans to raise $2.5 billion from institutional investors to acquire Bitcoin, mirroring Saylor’s company’s strategy. Saylor met with Eric Trump at the president’s Mar-a-Lago estate in Florida earlier this year, where Eric spoke of their longstanding friendship from two decades ago in New York. Saylor was also present at Trump’s inaugural crypto summit at the White House in March, where Eric Trump commended him for his contributions to the crypto community.
Changpeng Zhao
Known globally as CZ, Changpeng Zhao is the founder and former CEO of Binance, the largest cryptocurrency exchange worldwide. He faced a four-month prison sentence last year for failing to prevent the platform from being used for illegal activities, including child exploitation and drug trafficking, but was released in September. Zhao’s connection to Trump is highlighted by World Liberty Financial’s recent announcement of a $2 billion investment fund in the UAE aimed at acquiring a stake in Binance. He has also publicly requested a pardon from Trump to overturn his conviction.
Brian Armstrong
Brian Armstrong, the co-founder and CEO of Coinbase—a major cryptocurrency exchange—has played an instrumental role in merging the crypto industry with political dynamics. Armstrong and Coinbase were significant contributors to a political action committee that supported Trump and other pro-crypto candidates. He met with Trump shortly after the Election Day results and participated in the White House’s crypto summit. Additionally, Coinbase enlisted Chris LaCivita, Trump’s former campaign manager, for its Global Advisory Council. Recently, Trump delivered a pre-recorded message at Coinbase’s State of Crypto Summit.
The Winklevoss Twins
Tyler and Cameron Winklevoss, founders of the Gemini cryptocurrency exchange, are perhaps most publicly recognized for their legal battle with Mark Zuckerberg regarding the creation of Facebook, a storyline prominently featured in the film “The Social Network.” In 2023, they faced a lawsuit from Biden’s SEC for selling unregistered securities, another case that remains on hold since Trump took office. The twins each committed $1 million to Trump’s campaign and made substantial donations to Elon Musk’s political organization, although some contributions to Trump were returned due to federal limit violations. They attended Trump’s crypto summit, where they praised his approach to the industry. At a conference in Las Vegas, Vice President JD Vance highlighted the twins’ role in encouraging tech leaders to back Trump’s campaign, stating they were pioneers in garnering support from Silicon Valley.
David Bailey
David Bailey serves as the CEO of BTC Inc., a major holding company with diverse interests in the crypto sector, including Bitcoin Magazine. He has recently secured $300 million to establish Nakamoto, a publicly traded investment firm focused on Bitcoin. Bailey has been an advisor on cryptocurrency matters for Trump’s campaign, and Vance acknowledged his contributions to the Bitcoin community during the Las Vegas conference.
