Trump Administration Officials Hold $193 Million in Crypto House Crypto Bills Spark Stock Surge Upbit Faces $137 Billion Fine for Regulatory Violations

Nearly 70 officials from the Trump administration hold significant stakes in cryptocurrency, with the total value of their holdings exceeding $193 million. President Trump himself possesses digital assets valued at $51 million, while Vice President Vance holds bitcoin reserves worth up to half a million dollars. Among the Cabinet members, Health Secretary Kennedy leads with $5 million in cryptocurrency investments. Other notable figures include tech executives Scott Kupor and David Fogel, as well as ambassadors Ken Howery and Tilman Fertitta, who possess substantial portfolios. PayPal founder Howery holds a minimum of $122 million in cryptocurrency. In contrast, officials from the Biden administration reported zero cryptocurrency holdings. The Trump era has marked a significant milestone for cryptocurrency, achieving unprecedented governmental legitimacy as digital asset values have doubled recently across markets.

The passage of House crypto bills has sparked a surge in stock prices, with Coinbase climbing 3.15% to $410.75, hitting fresh record highs. Circle Internet Group gained 0.81%, reaching three-week peaks, while Robinhood Markets jumped 2.13% above $105, breaking previous records. Galaxy Digital Holdings soared 7.38% as investors celebrated regulatory clarity, and PayPal Holdings added 1.22%, benefiting from the crypto momentum. The surge in stock prices reflects the growing optimism and regulatory clarity in the cryptocurrency market, driving digital asset momentum.

Upbit, South Korea’s largest cryptocurrency exchange, faces a potential $137 billion fine for over 9.5 million regulatory violations, including severe breaches in Know Your Customer (KYC) protocols. This penalty underscores the increasing scrutiny and regulatory pressure on cryptocurrency exchanges, highlighting the need for stricter compliance measures to prevent illegal activities and ensure market integrity. The potential fine serves as a stark reminder of the consequences for non-compliance and the importance of adhering to regulatory standards in the cryptocurrency industry.