Donald Trump Reveals $5M in Crypto Holdings, Nets $7M from NFT Foray

Crypto Reporter

Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

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Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

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Last updated:

August 16, 2024 03:56 EDT

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Ex-president Donald Trump has investments in crypto worth up to $5m and earned more than $7m from his venture into non-fungible tokens (NFTs), according to financial disclosures for the 2024 election.

Based on the disclosures that the Citizens for Ethics group obtained, Trump reported owning Ether ranging in value from $1m to $5m.

However, Arkham Intelligence has pinpointed Trump’s holdings more precisely, indicating his wallet contains $3.6m in crypto. These include $1.29m in Ether and $989k in wrapped Ether. It’s unclear if Trump has increased his crypto investment or if his holdings grew due to Ethereum’s recent price rise.

His continued involvement with digital assets aligns with his pro-crypto promises for the election, while his family is also gearing up to enter the cryptocurrency market. His son, Donald Trump Jr., has started a Telegram channel named “The DeFiant Ones,” hinting at an upcoming reveal of the Trump family’s much-anticipated venture into the space.

Trump’s NFT Earnings Soar to $7.2M

In the disclosure, Trump reported receiving about $7.2m from a licensing deal with NFT INT, LLC. The company markets digital NFT “trading cards” featuring the former president. His earnings from this agreement have surged from about $300,000 a year ago.

US presidential candidates must file personal financial disclosures to ensure transparency and accountability. These disclosures help show that candidates have no conflicting interests that could influence their policy decisions if elected.

Trump’s Mar-a-Lago club in Palm Beach, Florida, was a significant income source. Still, it generated around $57m, a fall from the $65m he reported last time.

Trump Woos Crypto Voters

Trump, who once called cryptocurrencies a “scam,” is now engaging with the crypto community actively. He’s attracting significant donations from supporters who hope to halt SEC Chair Gary Gensler’s regulatory actions.

In his latest effort to attract cryptocurrency voters, the Republican presidential candidate spoke at the Bitcoin 2024 conference. There, he made several campaign pledges, including a promise to establish a state Bitcoin reserve.

“Never sell your Bitcoin,” he told a cheering audience in Nashville.