President Donald Trump's family trust made nearly 50 trades across eight crypto-linked companies during the first quarter of 2026, according to Form 278-T filings released by the U.S. Office of Government Ethics (OGE) on Tuesday. The disclosure reveals Coinbase was the most frequently traded crypto stock, appearing in nine separate transactions, with the largest transaction occurring on February 10, 2026, valued between $100,001 and $250,000. Trump also reported two smaller purchases of MARA Holdings, both valued below $50,000, with the most recent transaction on March 30, 2026. This comes as the broader crypto market continues to attract institutional and high-profile investor attention, with the purchases occurring during a period when the administration has advanced a sweeping pro-crypto agenda. The filings indicate the cumulative value of these transactions ranges from $220 million to $750 million across municipal bonds, index funds, and individual corporate equities, with crypto-linked trades accounting for an estimated $1.5 million to $3.8 million of the total portfolio value.
The filing shows extensive trading activity in Strategy shares, with eight transactions recorded throughout the quarter. The largest purchase was made on February 12, 2026, worth between $50,001 and $100,000, while the largest sale occurred on January 12, 2026, ranging between $15,001 and $50,000. Strategy, formerly known as MicroStrategy and now the world's largest corporate Bitcoin holder with over 818,000 BTC on its balance sheet, appeared in eight transactions across both the buy and sell sides. The company recently reported a $1.26 billion net loss in Q1 and has announced a strategic pivot toward AI and data center operations. The disclosures list eight Strategy Class A share transactions, including a February purchase valued as high as $100,000 and a January sale valued as high as $50,000, making its shares highly sensitive to BTC's price and the financing strategy behind its purchases. On Friday, the firm filed to buyback $1.5 billion of its convertible debt, with MSTR's stock tumbling over 6% in morning trade despite retail sentiment improving to 'neutral' from 'bearish' territory.
The crypto-related transactions accounted for only a small portion of over 3,642 total trades that took place during the quarter, as reported by The Block. Other notable investments included purchases of Nvidia, Microsoft, Oracle, and Boeing with trades in the range of $1 million to $5 million. Trump also disclosed purchases of Block Inc., Robinhood, and SoFi Technologies shares during the same period. The documents show transactions valued at up to $5 million each with several companies, including Nvidia, Apple, Microsoft, Boeing, and Costco. The diversified portfolio approach reflects Trump's continued interest in both traditional and emerging technology sectors, with the filings showing activity in banks, defense contractors, technology suppliers, and municipal bonds. The aggregate notional value of all transactions falls in a wide band between approximately $220 million and $750 million, with a central estimate near $475 million according to reviews by Benzinga and The Kobeissi Letter.
The crypto-related trades occurred during the same quarter that the Trump administration was working on the Digital Asset Market CLARITY Act, which the Senate Banking Committee voted 15-9 to advance toward a full Senate floor vote. This timing coincided with a broad rally across crypto-linked equities, though individual stock performances varied significantly. Coinbase stock fell over 6.5% in morning trade amid broader market weakness, with retail sentiment on Stocktwits trending in 'bullish' territory. Robinhood dropped over 4.5% with retail sentiment in the 'bearish' zone, while Strategy tumbled over 6% despite improving retail sentiment to 'neutral'. MARA Holdings plummeted 7.6% in morning trade, though retail sentiment remained 'bullish' with high chatter levels. The filing covers transactions by Trump, First Lady Melania Trump, and dependent children, with the disclosure coming amid growing scrutiny over the Trump family's broader crypto interests.
The crypto stock purchases come during a period when the administration has advanced a sweeping pro-crypto agenda, including signing executive orders creating a federal Bitcoin strategic reserve and launching the Trump Accounts retirement program. However, critics have flagged the overlap between the president's securities holdings and his regulatory authority as a conflict of interest risk. Democrats in the Senate, including Senator Elizabeth Warren, have argued that the CLARITY Act needs stronger ethics provisions to address elected officials profiting from crypto ventures while in office. The White House has defended the filings as full compliance with the STOCK Act and federal ethics requirements, while the purchases of Coinbase, Robinhood, and other crypto-linked firms come during a period when the SEC dropped or settled multiple enforcement actions against companies in the digital asset space. The disclosures arrive amid a broader debate over Trump's transformation from crypto skeptic to one of the industry's most influential political backers, with the president having previously criticized Bitcoin and other digital assets before embracing the industry during his 2024 campaign.
