In a financial disclosure, former President Donald Trump has revealed significant holdings in Ethereum (ETH-USD) and Ethereum-based cryptocurrencies, as well as earnings from the NFT space. This revelation could make even the most seasoned investors take notice. The disclosure sheds light on Trump’s evolving financial portfolio and his shifting stance on digital assets as he gears up for the 2024 presidential election.
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Trump’s Crypto Holdings Come to Light
According to Citizens for Ethics, Donald Trump holds between $1 million and $5 million in Ethereum-based cryptocurrencies. This includes $1.29 million in Ethereum, $986,000 in Wrapped Ethereum (WETH), and $372,000 in the quirky meme coin Trog (TROG), as reported by Arkham Intelligence. While this sum is a fraction of his $7.5 billion net worth, it’s still a notable portion of his financial portfolio.
Despite the seeming modesty of these holdings relative to his wealth, Trump’s engagement with the crypto world signals a significant shift in his financial strategy.
Trump Nets Millions from NFTs
Beyond cryptocurrencies, Trump’s financial disclosure also details his earnings from non-fungible tokens (NFTs). According to Citizens for Ethics, Trump has netted over $7.15 million from his NFT ventures, which include the controversial “Mugshot” series and two editions of Donald Trump Trading Cards. These digital collectibles, featuring everything from heroic portrayals to whimsical depictions, have had varied success since their debut.
The first series of NFTs quickly lost value after the release of a second series doubled the collection’s supply. However, Trump’s ability to capitalize on the NFT trend is evident from his latest venture—a line of “official crypto-sneakers”—which sold out rapidly despite their $499 price tag. This underscores Trump’s skill at leveraging market trends for financial gain.
Trump Vows Pro-Crypto Policies in 2024 Campaign
Trump’s financial revelations come as he campaigns for the presidency with a strong pro-crypto stance. He has pledged to end what he calls the “anti-crypto crusade” and to establish the U.S. as a global crypto leader. His promises include building a national Bitcoin stockpile and firing Securities and Exchange Commission Chair Gary Gensler, though the latter lacks practical feasibility without broader support.
While Trump’s Democratic rival, Kamala Harris, has not made significant public comments on cryptocurrency, efforts in Congress are underway to advance crypto legislation. This backdrop adds an extra layer of intrigue to Trump’s financial disclosures, reflecting a broader shift in the political landscape’s approach to digital assets.
What Is the Price of Ethereum Today?
At the time of writing, ETH is sitting at $2,579.73.
