Former US President Donald Trump owns a crypto wallet worth $5 million in Ethereum. Not only that, Trump also earned $4.9 million from NFT royalties.
Trump a crypto whale? his Ethereum wallet is worth $5 million
According to reports, it appears that former US President Donald Trump wants to become a crypto whale, with his $5 million Ethereum wallet.
The information on Trump’s financial situation was taken from the 2023 certifications published by the Citizens for Responsibility and Ethics in Washington, or CREW.
Specifically, one entry shows that in a crypto wallet, the former US President owns up to $5 million worth of ETH.
Not only that, such information also shows that Trump has earned $4.9 million from an NFT licensing agreement with NFT INT LLC, the company behind two separate NFT airdrops that have yielded millions of dollars in sales and royalties.
This week, Forbes also pointed out that Trump had up to $500,000 worth of ETH, but their source dates back to April 2023. This one from CREW, on the other hand, is from this month.
Trump, his crypto wallet as a whale and his NFT collections
Adding to Trump’s whale crypto wallet are also the royalties obtained from secondary sales of his two NFT collections.
Indeed, according to the same CREW source, it appears that the former President has generated as much as $2.6 million in ETH, distributed across four different crypto wallets to which these revenues are directed.
Trump’s first NFT collection was launched to the public last December 2022, and features the former US President portrayed as a superhero, or cowboy or astronaut. The initial sale price of each NFT was $99 and the 45,000 digital collectibles were issued on Polygon’s blockchain.
This first collection saw a sell-out within hours, generating initial sales of $3.53 million.
An important event involving such NFTs by Trump also occurred in April 2023, when the former president had to appear in Manhattan court.
That episode resulted in his NFT collection soaring 251% to over $65,000 in total sales. For instance, at the time, NFT card #3162 was the top selling card priced at over $2,500.
‘Crypto was dangerous’
Trump is known to have initially come out against crypto assets, claiming that they were dangerous. These claims had come after his own wife Melania was launching NFTs on Solana’s blockchain.
It was late December 2021, when in an interview, Trump had renewed his criticism of the cryptocurrency industry, stating that what he preferred the most was the dollar.
It is likely that at the time, the former president believed that cryptocurrencies were competing with the dollar, which was not the case, to the point that he then wanted to enter into the sector with his investments and creation of NFT collections.
Source: https://en.cryptonomist.ch/2023/08/16/trump-has-5-million-crypto-wallet/