New document shows Trump made more money ($4.8M) from NFT sales than previously known

Blockchain
New document shows Trump made more money ($4.8M) from NFT sales than previously known

Fresh disclosures reveal that former U.S. President Donald Trump owns much more cryptocurrency than was first publicly known. According to official documents received by governmental ethics watchdog Citizens for Responsibility and Ethics in Washington, Trump held $2.8 million in a cryptocurrency wallet in early August and earned $4.87 million in licensing fees from his non-fungible token (NFT) collection.

Trump has half a million invested in Ether

The former president and leading Republican candidate for the upcoming election had previously disclosed up to $500,000 held in digital assets, according to a government document dated April 14.

However, blockchain research firm Arkham Intelligence claims to have identified what appears to be the former president’s crypto wallet. The firm tweeted on Wednesday that he is likely the owner of a certain address on the Ethereum blockchain, which holds a total of $2.8 million in ETH.

New document shows Trump made more money ($4.8M) from NFT sales than previously known - 1
Source: @ArkhamIntel

The newly discovered ETH holdings show that Donald is more deeply invested in crypto than initially thought. Last year, the former president, a known crypto skeptic during his time in office, launched an NFT project named Trump Digital Collectible Cards featuring images of himself. He released a second series of collectibles this April, with both collections selling out.

The presidential race heats up

This revelation comes at a time when cryptocurrencies are playing a significant role in the political landscape of the U.S. As presidential candidates prepare for the 2024 election, they are sharing their positions on digital assets.

Democratic hopeful Robert F. Kennedy Jr., a confirmed Bitcoin (BTC) owner, pledged to back the U.S. dollar with BTC and exempt the token from capital gains taxes if elected. In contrast, Florida Governor and Republican candidate Robert DeSantis, currently trailing Trump in early polls, vowed to ban central bank digital currencies (CBDCs) as president.

Arkham’s research also showed that, in addition to ETH, Trump holds minor amounts in wETH, MATIC, and USDC stablecoin.

Trump’s surprising investment in cryptocurrency underscores the growing influence of digital assets in the political and financial worlds. But whether his crypto holdings will play a role in the upcoming election remains to be seen.

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