August 13, 2023

Trump Reported Possessing Ethereum Worth $250,000

Donald Trump

Donald Trump

WatcherGuru, a well-known platform for financial and cryptocurrency information, recently reported that former US President Donald Trump owns Ethereum worth $250,000. This information comes amid the court’s ongoing investigation into the former president’s financial records.

According to Trump’s disclosure, an asset listed as a “cryptocurrency wallet (Ethereum)” seems to be linked to a group of NFTs which he publicized after he departed from the White House, Forbes reported.

In December 2022, an announcement was made that a “limited edition collection” of 44,000 NFTs would be released. These NFTs featured cartoon-like trading cards of Trump in different outfits, including hunters’ camouflage, a welders’ suit, and a superhero costume. The cards were sold for $99 each and sold out within a day. A second batch was released in April, which also sold out.

It is estimated that the sales raised over $8.9 million, with the former president receiving $298,000 in licensing fees through his wallet held under the Trump entity, CIC Digital.

It is worth mentioning that Trump in 2019 tweeted: “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.”

Melania Trump, the wife of former President Trump, was reportedly involved in the creation and sale of NFTs. Specifically, she converted a number of famous images related to the Apollo lunar landings in the 1960s and 1970s into NFTs and sold them for $75 each. However, NASA officials were not pleased with this development, as they felt that it violated their rules with regards to the use of their images for commercial purposes like NFTs.

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