- Former President Donald Trump’s Ethereum wallet holds over $2.8 million, significantly up from the previously disclosed $250,000-$500,000.
- Financial statements indicate Trump earned $4.8 million from NFT licensing fees using his image, netting a total of $7.6 million from crypto engagements.
From Skepticism to Lucrative Crypto Ventures
A recent financial disclosure has brought to light former United States President Donald Trump’s growing interest in the world of blockchain and cryptocurrency. As of August 14th, records from the nonprofit organization, Citizens for Responsibility and Ethics in Washington, highlight that Trump’s Ethereum wallet is now worth over $2.8 million. This marks a significant rise from the figure mentioned in his April 14th filing, which stated he held between $250,000 to $500,000 in Ethereum.
You might've missed this in the middle of the Georgia indictment news, but we got our hands on new Trump financial documents. Give them a read here: https://t.co/oAHGihGNAO
— Citizens for Ethics (@CREWcrew) August 15, 2023
Delving deeper into the financial records, there’s evidence of Trump’s foray into the nonfungible token (NFT) space. It appears that the former president made a substantial $4.8 million in licensing fees from NFT collections featuring his likeness. Combining his NFT earnings with his Ethereum holdings, Trump’s crypto ventures have netted him approximately $7.6 million.
While the financial report showcases Trump’s lucrative engagements with cryptocurrencies, it’s juxtaposed with his prior skepticism towards the digital asset realm. Trump, a billionaire real estate magnate, has expressed reservations about the authenticity of cryptocurrencies in the past. In particular, he labeled cryptocurrencies as potentially “fake” and saw them as a “looming disaster.”
I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….
— Donald J. Trump (@realDonaldTrump) July 12, 2019
Moreover, his aversion was not just limited to the general crypto spectrum. He specifically called out Bitcoin, the foremost digital currency, describing it as something that “seems like a scam.” One of his main concerns was Bitcoin’s potential threat to the dominance of the US dollar, viewing it as a rivaling currency.
While the details of Trump’s crypto ventures and his previous skepticism provide a captivating narrative, it’s worth noting that they’re unveiled against the backdrop of significant political happenings. The financial revelation comes concurrently with the news of his indictment in Georgia, relating to allegations of conspiring to meddle with the 2020 presidential election. As Trump gears up for another potential run for the White House in 2024, these disclosures are sure to stir conversations around his financial strategies and crypto’s evolving role in global finance.
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