Updated filings show that former President Donald Trump owns $2.8 million worth of cryptocurrency in his Ethereum wallet – a far higher amount than disclosures from earlier this month appeared to suggest.
The disclosures paint a different picture of Trump’s views on crypto than his public pronouncements about the asset class would seem to suggest.
Trumps Crypto and NFT Earnings
As submitted to the Office of Government Ethics, entry 24 under Trump’s “Employment Assets and Income and Retirement Accounts” lists a series of items related to crypto and NFTs.
The item is titled “CIC Digital LLC (License fees for NFTs)” and is subdivided into three parts: One of those parts included his Ethereum crypto wallet, which contained $2,806,341 in assets at disclosure time.
Another part – listed as “License agreement with NFT INT, LLC” – related to Trump’s earnings from a non-fungible token (NFT) collection he launched as part of his relaunched election campaign to return to the White House in 2024. This amount totaled $4,866,832.
The first installment of the collection performed well, even surging after Trump’s first indictment in early April. However, it crashed later that month when he announced the launch of a second batch of NFTs on Polygon.
Earlier this month, Trump’s OGE financial disclosure documents stated that he owned between $250,000 and $500,000 in his ETH wallet. This wallet was also connected to his NFT collection.
Trump’s wife Melania has also dabbled in NFT sales, launching an NFT venture on Solana in 2021 featuring digital and physical art. Part of the proceeds were used to raise money for children aging out of the foster care system.
Melania also announced a set of 10,000 official NFTs celebrating Trump on President’s Day last year, meant to highlight “iconic” moments of the Trump administration.
Trump’s Past Claims About Crypto
In July 2021, Trump told Fox Business that he thought Bitcoin looks like a “scam” and criticized it for competing with the US dollar.
“I want the dollar to be the currency of the world. That’s what I’ve always said,” he said at the time.
That being the case, Trump was more recently bearish on the U.S. dollar’s status under the Biden administration, warning that its devaluation would lead to its loss of world reserve status.
Unlike Trump, the current Republican party is largely supportive of crypto, with several members of the party pushing for legislation to create a welcoming regulatory framework for the industry.
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Source: https://cryptopotato.com/trumps-true-crypto-holdings-are-worth-millions-new-filings-show/