Former US president Donald Trump owns between $250,000 and $500,000 in an Ethereum wallet. Trump, who remains neutral on central bank digital currencies (CBDCs) compared with other presidential candidates, also earned just under $300,000 from licensing fees related to his non-fungible token (NFT) collection.
The information was disclosed in a filing with the United States Office of Government Ethics, a government agency limiting conflicts of interest in the executive branch of the US government. In addition to the former president’s assets, the document lists the business interests of his wife and former first lady Melania Trump.
Trump Disclosures Follow Serious Indictment
The NFT licensing royalties relate to a collection the former president launched two years after losing to Joe Biden in the 2020 presidential elections. While Trump previously opposed cryptocurrencies for their criminal potential, sales of his NFTs skyrocketed after their 2022 launch.
What exactly are NFTs? Read our detailed guide here.
Similarly, after news of Trump’s Ethereum holdings surfaced, the collection’s 24-hour sales volume rose 18% to $2,879.
In early August, a federal grand jury charged Donald Trump with an alleged conspiracy to defraud the United States, conspiracy to obstruct an official proceeding, obstruction of and attempt to hinder official processing, and a conspiracy against voting rights.
Donald Trump Opposes Crypto, But Silent on Digital Dollar
This past weekend, the former president and Republican front-runner stole attention from pro-Bitcoin (BTC) hopeful Ron DeSantis in Iowa. DeSantis and Democrat Robert F. Kennedy hope to promote Bitcoin adoption if elected.
Both oppose a CBDC which they fear erodes civil liberties. Trump, on the other hand, has said he doesn’t want any digital currency to threaten US dollar dominance.
During his 2016 term, Trump asked his treasury secretary to investigate China’s use of Bitcoin to avoid US sanctions. BeInCrypto recently reported the eastern superpower is exploring distancing itself from the US dollar through CBDC experiments with neighboring Asian countries.
Trump’s pro-dollar views agree with those of US Securities and Exchange Commission (SEC) chair Gary Gensler.
Gensler said in June Americans do not need cryptocurrencies because the country already has a digital version of the dollar. Under his watch, the SEC has filed numerous civil enforcement actions against US crypto firms.
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Disclaimer
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Source: https://beincrypto.com/donald-trump-half-million-crypto/