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 ownership of both ADA (Cardano) and XRP. The estimated value of these holdings ranges between $1,001 and $15,000 each.

Key Points

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

- *XRP Holdings:* His XRP holdings 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.

Trump's Crypto Reserve Proposal

- *Inclusion of ADA and XRP:* Trump's proposal for a U.S. crypto strategic reserve includes Bitcoin, Ethereum, XRP, Solana, and Cardano (ADA), leading to a significant surge in ADA's price.

- *Hoskinson's Surprise:* Hoskinson revealed he was "blindsided" by the announcement, learning about it through congratulatory messages ¹ ².

Market Movement

- *Cardano Whales Selling:* Large ADA holders 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 ².

Impact and Implications

The disclosure of Thorgersen's ADA and XRP holdings, combined with Trump's crypto reserve proposal, highlights the growing intersection of cryptocurrency and politics. This development could have long-term implications for Cardano's adoption and price