Trump’s Financial Disclosure Reveals $7 million in NFT Gains and $5 million in Crypto Holdings
Donald Trump recently disclosed his personal financial information, indicating that he possesses approximately $5 million in cryptocurrency. Additionally, the document reveals that he has earned over $7 million from non-fungible tokens (NFTs); NFT INT’s license agreement generates this money.
The former president’s claims in favour of crypto have a fresh twist thanks to the financial report made public by Citizens for Ethics. The advances made by cryptocurrencies may help to explain why, in the past few years, Donald Trump has shifted from being sceptical of the sector to being in favour of it.
Trump has most of his cryptocurrency holdings on Ethereum.
Trump’s cryptocurrency holdings are on the Ethereum network, per the papers. The filing was silent on the specific cryptocurrency he owns or the quantity of them. It did, however, provide a rough estimate, stating that the presidential candidate has between $1 million and $5 million in his Ethereum wallet.
Further information on the former president’s cryptocurrency holdings can be found in data from Arkham Intelligence. In his wallet, he has $3.55 million worth of digital assets, including USDC, WETH, and ETH. But there are also a number of meme coins, such MVP, FIGHT, and MAGAA.
The cryptocurrency portfolio of Donald Trump (source: Arkham Intelligence)
The presidential candidate is not officially associated with any of these meme coins, despite the fact that he inspired the majority of them. Given that his address is public knowledge, the developers most certainly sent him a portion of the supply. Remarkably, during the huge price surge of the TRUMP meme coin in June, Trump’s holdings in on-chain cryptocurrency reached a maximum of $18 million.
According to the documents, the former president received $7.15 million in cryptocurrency and NFT licensing fees. Numerous NFT initiatives have been started with ties to Trump. These consist of two trading card sets, the Mugshot project, which was inspired by his criminal indictment, and, most recently, a $499 limited edition orange crypto-sneaker.
There may be more cryptocurrency initiatives coming.
The former president and his allies still intend to introduce other NFT and cryptocurrency ventures in the interim. A new cryptocurrency project that would be the official one for the Trump Organisation has been hinted to by Eric, the son of President Trump. He hasn’t revealed many details of his idea, although he made a suggestion that it would entail digital real estate.
He claims that the new project will enable people to access any market and is equitable. For those interested in the initiative, he has already established a Telegram channel, and he says he has fallen in love with Crypto/Defi.
He declared: It’s collateral that anyone can quickly obtain access to. I’m not sure how many people are aware of the disruption that would be to the banking and finance industry.”
Remarkably, Trump’s cryptocurrency venture has increased his wealth, but it has also made his fans more susceptible to con artists trying to use his reputation. The most recent instance concerned the Restore the Republic (RTR) token, which its developers asserted to be the official token of President Trump.
The token’s market capitalisation surged to $155 million in a matter of hours due to the inflow of capital from investors. But after Eric Trump alerted users to the dangers of phoney tokens, it crashed. Even so, fans are still keeping an eye out for his formal project.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
X : cryptomantr