August 17, 2023

Trump’s Crypto Wallet Worth of Millions in ETH, New Filing Says

Trump's investment in Crypto

Trump’s investment in Crypto

Recent updates to official filings reveal that a considerable sum of $2.8 million worth of cryptocurrency is registered under the ownership of a former US President, Donald Trump.

The amount in question appears to be significantly greater than the previously disclosed figures from earlier this month.

In the filing made with the Office of Government Ethics, entry 24 under Trump’s “Employment Assets and Income and Retirement Accounts” details a range of items linked to cryptocurrency and NFTs.

The entry, “CIC Digital LLC (License fees for NFTs),” is divided into three sections. One of these sections pertains to his Ethereum cryptocurrency wallet, which held $2,806,341 in assets at the time of disclosure.

Another section, “License agreement with NFT INT, LLC,” concerns Trump’s earnings from a non-fungible token (NFT) collection he launched as part of his re-election campaign to return to the White House in 2024. This section amounts to $4,866,832.

The collection’s initial release proved successful, showing a surge in sales after the first indictment against Trump in early April. However, the subsequent launch of a second batch of NFTs on Polygon later that month resulted in a crash of the collection.

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 creating and selling 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 it violated their rules about using their images for commercial purposes like NFTs.

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