Former President Donald Trump Disclosed Owning Up to $5 Million in Ethereum and Reported Earnings Exceeding $7 Million from his NFT Ventures, According to His Financial Disclosures from the Citizens f

According to the document, Trump holds Ethereum-based assets valued between $1 million and $5 million in a cold wallet.

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

The document reveals that Trump holds Ethereum-based assets valued between $1 million and $5 million in a cold wallet. However, 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.

Furthermore, 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 utilizes Trump’s name and likeness under a licensing agreement with CIC Digital.

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

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

Crypto asset management firm CoinShares highlighted that Trump’s potential second term could have a varying impact on Bitcoin.

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

Despite this, the firm concludes that his presidency would foster a more favorable regulatory environment for digital assets due to his pro-crypto stance and his choice of J.D. Vance, a staunch Bitcoin supporter, as his running mate.

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

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