According to a new filing, Donald Trump has earned more than $7 million from his NFT releases. Indeed, the disclosure also shows that the 45th President of the United States currently holds more than $5 million worth of Ethereum, in an interesting note.
Trump’s bid for reelection in November has leaned into the crypto asset class. Specifically, he has sought to protect the rights of digital asset holders in the country. Therefore, he has become an increasingly popular option for crypto voters who have long-awaited government intervention to steer appropriate regulatory action.
Source – Mother Jones
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Trump Reveals ETH Holdings, NFT Earnings in New Filing
There is no denying the growing importance of crypto. The asset class has surged in relevance this year. With two crypto-based ETFs getting approved, the asset class has never been more attractive to mainstream investors. Moreover, firms like BlackRock and Goldman Sachs note increasing exposure to tokens like Bitcoin.
This spurred increased hope for crypto advocacy for the incoming US President. To this point, Donald Trump has emerged as a voice for that group. Now, a new filing discloses the former president’s substantial holdings.
According to a filing, Donald Trump earned $7 million from his NFT collection. Moreover, he currently holds between $1 million and $5 million in a “cryptocurrency wallet, with virtual Ethereum key, held in a cold wallet.”
Source: AFP
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On-chain analysis firm Arkham Intelligence recently reported that Trump holds more than $3.6 million in Ethereum-based crypto. That investment is split into three coins. Specifically, Trump holds $1.29 million in ETH, $900,000 in WETH, and $400,000 in GUA.
The disclosure of financial holdings is an important part of the presidential candidacy process. It clearly displays income to the voting public. Moreover, it allows voters to identify any potential conflicts of interest. If anything, this shows that Trump is not only a crypto advocate, but has significant exposure to the asset class.