Trump holds around $5 million in Ethereum, nets $7 million from NFT ventures

Former President Donald Trump disclosed owning up to $5 million in Ethereum and reported earnings exceeding $7 million from his non-fungible token (NFT) ventures, according to his financial disclosures from the Citizens for Ethics group.

According to the document, Trump holds Ethereum-based assets valued between $1 million and $5 million in a cold wallet. However, available data from blockchain analytical platform Arkham Intelligence shows that Trump’s wallet contains approximately $3.6 million in crypto, including $1.29 million in ETH and $989,000 in wrapped ETH.

Additionally, Trump reported earning $7.15 million in licensing fees from NFT INT LLC for his NFT collections, which include the “Mugshot” edition and two series of Donald Trump Trading Cards.

NFT INT sells the cards and uses Trump’s name and likeness under a licensing agreement with CIC Digital.

Pro-Bitcoin

Trump’s evolving stance on digital assets marks a significant shift from his previous skepticism towards the crypto industry. The Republican presidential candidate, once a critic of the industry, has now embraced them as a key focus in the upcoming November elections.

As part of his re-election campaign, Trump has pledged to build a national Bitcoin reserve and position the US as the leader of the sector through pro-crypto policies that would help the sector to thrive.

Crypto asset management firm CoinShares pointed out that Trump’s potential second term could greatly influence Bitcoin.

According to the firm, Trump’s protectionist policies and inflationary trade strategies might undermine geopolitical stability and the US dollar’s status as a reserve currency, potentially boosting Bitcoin as a hedge. However, a stronger dollar, often linked to Trump’s fiscal conservatism, could negatively affect Bitcoin prices.

Nevertheless, the firm believes his presidency would foster a more favorable regulatory environment for digital assets because of his pro-crypto stance and his choice of J.D. Vance, a staunch Bitcoin supporter, as his running mate.

CoinShares concluded:

“Overall, Trump’s presidency could create a mixed but potentially advantageous landscape for Bitcoin.”

The post Trump holds around $5 million in Ethereum, nets $7 million from NFT ventures appeared first on CryptoSlate.