Business newsDonald Trump Holds up to $500k Worth of ETH

Donald Trump Holds up to $500k Worth of ETH

Donald Trump’s most recent public financial disclosure reveals his ownership of Ethereum (ETH) valued between $250,000 and $500,000.

In the 2023 financial disclosure documents from the Office of Government Ethics (OGE), which were recently released, a listing titled “Cryptocurrency Wallet (Ethereum)” is featured. In this listing, the former President estimated the value of the Ethereum holdings to be within the range of $250,000 to $500,000.

The Ethereum in the crypto wallet is likely associated with the sale of non-fungible tokens (NFTs) that he launched in December 2022 after leaving the White House. These exclusive NFTs, comprising 44,000 digital trading cards depicting the former President in various costumes and poses, quickly sold out within a day.

Reports suggest that Trump’s foray into NFTs yielded impressive results, with sales exceeding $8.9 million and generating approximately $298,000 in licensing fees. The cryptocurrency wallet used to collect these earnings falls under the same Trump entity, CIC Digital, that managed the licensing fees.

Even former first lady Melania Trump briefly ventured into NFTs by transforming popular images from NASA’s Apollo moon landings into digital artworks, each selling for $75. However, NASA criticized this endeavor, asserting that it violated the agency’s merchandising regulations.

It’s worth noting the shift in Trump’s attitude towards cryptocurrencies, given his previous skepticism. In 2019, he openly expressed disapproval of Bitcoin (BTC), labeling it as “not money” and attributing its value to being “based on thin air.” During his 2021 re-election campaign, he reiterated his skepticism, characterizing cryptocurrencies as “fake.” His current ownership of Ethereum thus marks an interesting departure from his past stance.


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