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Charles Hoskinson, co-founder of Cardano 
$0.689141, recently revealed that 78.5% of newly elected President Donald Trump’s net worth is tied to cryptocurrencies. This substantial crypto stake, part of Trump’s estimated $29.6 billion fortune, positions him among the wealthiest crypto entrepreneurs globally.
Trump’s Crypto Investments May Influence the Sector
Hoskinson noted that Trump’s deep interest in cryptocurrencies could lead to significant shifts within the sector. It is anticipated that the Trump administration will redefine IRS policies regarding capital gains taxation and the fair market value of digital assets.
“Trump’s substantial new crypto wealth will lead to changes in IRS’s interpretations of capital gains and the fair market value of cryptocurrencies.”
The launch of Donald Trump’s TRUMP memecoin has garnered attention from the crypto community. The meme coin reached a market value of $8 billion within hours of its debut. Trump’s company, CIC Digital LLC, has secured 80% of the coin’s supply, which makes this venture potentially profitable.
Ripple Lawyer Comments on Legal Implications
Ripple 
$2 lawyer Bill Morgan discussed how Trump’s introduction of the TRUMP memecoin might affect ongoing legal and regulatory battles. He argued that Trump’s involvement with a speculative digital asset could complicate the SEC‘s legal approach in its case against Ripple and XRP.
Morgan pointed out that Trump’s presidential immunity might shield him from regulatory scrutiny, yet it raises the need for robust crypto regulations. The actions of Trump and changes in administration policy could shape the oversight of crypto assets in the future.
Morgan expressed optimism about the appeal against Judge Torres’ ruling, suggesting that the view on token issuance without post-sale liabilities could support Ripple’s decision to continue its cross-appeal.
Trump’s significant investment in cryptocurrencies could potentially reshape the regulatory framework within the crypto sector.
