Per new financial disclosures, the former United States President, Donald Trump, was recently discovered to own an Ethereum wallet worth more than $5 million.
Former U.S. President Donald Trump might soon attain crypto-whale status. The former U.S. President’s burgeoning cryptocurrency reserve is likely tied to royalties from his Non-fungible token (NFT) collections.
A Breakdown Of Trump’s Cryptocurrency Portfolio
A recently surfaced financial record presented to the Office of Government Ethics desk suggested that Trump holds digital assets valued at over $2.8 million in an Ethereum wallet.
At the same time, an updated report shared on X by the Citizens for Responsibility and Ethics in Washington (CREW) suggested that Trump earned $4.9 million in fees from an NFT collection launched as part of his 2024 presidential campaign efforts.
It is worth noting that Trump released two batches of NFTs in December 2022 and April 2023, respectively. According to Opensea data, the first batch of Trump’s NFTs generated a trading volume worth $26 million.
Throwback To When Trump Tagged Cryptocurrencies As Scams
Trump’s large crypto holdings contradict his outspoken stance against the asset class. In December 2021, he stated that he advocated for the U.S. dollar, raising concern over the unchecked growth of the nascent market.
But despite his stance on cryptocurrencies, the former U.S. president has expressed an affinity for digital collectibles hosted on the blockchain or at least the collections launched by himself and his wife Melania Trump.
In the same month when he expressed disdain for crypto, he also defended Melania’s NFT venture, asserting that it was different from cryptocurrencies which he likened to a dangerous speculative bubble.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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