According to filings with the U.S. Office of Government Ethics, former President Donald Trump earned between $100,000 and $1 million through the sale of his NFTs. Citizens for Responsibility and Ethics in Washington (CREW), a code of conduct monitor, released the materials earlier.
In December of 2022, Trump unveiled the President Trump NFT, a digital art exhibition of 45,000 pieces. The public’s interest was piqued by the line’s purported connection to the ex-president, and it quickly sold out on the first day of release.
Showing Donald Trump Some Love
After hearing that the former US president had filed an arraignment in New York, the price of the digital collectibles skyrocketed, making this week a highly profitable one for long-time holders of the tokens.
The number of wallets that are now holding Donald Trump NFTs has dropped by 14% to 207 in the last week, according to on-chain statistics compiled by NFT data aggregator CryptoSlam. In contrast, those investors’ trading profit increased by 651%, reaching $12,000.
Former US President Donald Trump. Image: AP
Additionally, data from CryptoSlam demonstrates that Trump’s NFT venture has produced nearly $20 million in sales since its release. The number of wallets that are now holding this NFT, however, has decreased by 13% during the previous week, to 208.
However, according to OpenSea’s NFT market statistics, only 23% of Trump NFT investors possess two or more NFTs, while 65% hold just one.
Controversy Surrounds Former President’s NFTs
The collection has been beset by a number of issues since its debut. Allegations of stolen artwork join those of insider trading in the collection’s rarest NFTs.
The NFTs have been linked by the New York Times to Trump associate and serial entrepreneur Bill Zanker. The article said that a sizable chunk of sales earnings had been promised to Trump.
Furthermore, the Wyoming location listed for NFT INT LLC has previous connections with offshore companies, reports said.
Donald Trump claims that he will use the money he made from NFTs for his own benefit, despite the fact that it was raised during a political campaign.
Trump’s card distributor, NFT INT LLC, paid CIC Digital LLC for the right to use Trump’s likeness in digital artwork for sale. According to his tax returns, Trump received between $500,000 and $1,000,000.
BTCUSD inching back to the $30K level at $29,732 on the daily chart at TradingView.com
Donald Trump Rape Trial
Meanwhile, a federal court on Monday denied Trump’s attorney’s request to postpone the start of his rape trial for one month, saying that the former president cannot make public statements to boost pretrial publicity and then claim that it is adverse to him and justification to delay a trial.
Longtime columnist E. Jean Carroll will go to trial on civil charges against the former president on April 25 in Manhattan, according to Judge Lewis A. Kaplan.
Donald Trump said he never met Carroll and that the rape never occurred.
-Featured image from Mother Jones/Truth Social
Source: https://bitcoinist.com/donald-trump-earned-1-m-from-nfts/