Trump Aide's Crypto Holdings and Cardano's Market Movement

Thomas Thorgersen, Special Assistant to former President Donald Trump, has disclosed his cryptocurrency holdings, revealing that he owns both ADA (Cardano) and XRP. The value of these holdings is estimated to be between $1,001 and $15,000 each.

Key Points

- *ADA Holdings:* Thorgersen's ADA holdings have not generated significant income, with reported income being "None" or less than $201.

- *XRP Holdings:* His XRP holdings, however, have generated income ranging from $2,501 to $5,000.

- *Cardano Founder's Reaction:* Charles Hoskinson, Cardano's founder, responded lightheartedly to the disclosure, sharing a playful GIF on X (formerly Twitter).

Trump's Crypto Reserve Proposal

- *Inclusion of ADA and XRP:* In March 2025, Trump announced plans for a U.S. crypto strategic reserve, including Bitcoin, Ethereum, XRP, Solana, and Cardano (ADA). This led to a significant surge in ADA's price.

- *Hoskinson's Surprise:* Hoskinson revealed that he was "blindsided" by the announcement, learning about it through congratulatory messages.

Market Movement

- *Cardano Whales Selling:* Large ADA holders (those owning 100M-1B ADA) accumulated around 230 million ADA early last week, only to liquidate it within days.

- *Hoskinson's Treasury Plan:* Hoskinson proposed transforming the Cardano treasury by using a $100 million allocation to buy stablecoins and Bitcoin, generating yield to repurchase ADA for the treasury