Donald Trump, the 45th President of the United States, has changed his tune. New financial documents that paint a different picture have surfaced: Trump holds a substantial amount of cryptocurrency, closely tied to a highly profitable NFT boom.
According to the latest financial filings, Trump’s Ethereum-related cryptocurrency wallet boasts an impressive sum. It holds between $250,000 and $500,000. This revelation stems from Trump’s post-presidential venture into non-fungible tokens (NFTs).
His $99 limited edition trading cards were an undeniable success, adorned with his likeness in various themes, from hunters’ camouflage to superhero costumes. They sold out not once but twice, raking in a whopping $8.9 million.
Additionally, the NFT endeavor’s success was based on more than just its novelty. Trump pocketed a hefty $298,000.00 in license fees. These were funneled through his company, CIC Digital, a collaborative project with NFT INC LLC.
However, this venture into the world of NFTs and cryptocurrency represents just a fraction of Trump’s reported $2.5 billion fortune. Yet, it provides significant insight into his willingness to delve into a sector that remains a topic of debate and contention.
Moreover, this Ethereum holding does not necessarily ring alarm bells regarding legality. Since U.S. authorities recognize Ethereum as one of the legitimate crypto tokens, there is no breach. Significantly, the SEC has omitted Ethereum from its watch list of securities. It was also notably absent from their recent litigation against two prominent cryptocurrency exchanges.
Hence, while Trump’s move into the digital art and cryptocurrency sphere might surprise some, it is in line with the business mogul’s penchant for seizing profitable opportunities.
Moreover, this venture demonstrates that even those once skeptical of the digital currency realm can recognize and leverage its potential. Whether this indicates a broader shift in Trump’s stance towards cryptocurrency remains to be seen. However, one thing is clear, the former the president has once again showcased his business acumen by tapping into one of the most lucrative sectors of the digital age.
Source: https://www.cryptopolitan.com/trump-capitalizing-on-nft-boom-500k-ethereum/