- Trump revealed $250K-$500K Ethereum-linked NFT assets.
- Trump’s NFTs amassed over $8.9 million in sales.
- Despite past skepticism, Trump ventures into crypto.
Former President Donald Trump has emerged as an unexpected player in the crypto arena, revealing ownership of assets valued between $250K to $500K in a cryptocurrency wallet. Notably, the assets were mainly consisting of Ethereum. These holdings have been unveiled through a recent financial disclosure, shedding light on Trump’s foray into the world of non-fungible tokens (NFTs).
According to reports, Trump’s cryptocurrency assets appear closely tied to a series of NFTs, which he introduced following his departure from the White House. The former president’s innovative venture involved a limited edition collection of 44,000 NFTs, portraying him in various imaginative roles such as a hunter, welder, and even a superhero.
Moreover, these digital collectibles’ $99 price tag resulted in an astounding sell-out within a single day. Subsequently, Trump and his partner, NFT INC LLC, launched a second batch in April, which also garnered substantial demand and promptly sold out.
Astonishingly, the total sales from these NFTs have now surged past $8.9 million, underscoring the significant demand for Trump’s unconventional digital collectibles. Financial reports show that Trump pocketed this enterprise’s impressive $298,000 licensing fees. These earnings have been channeled through the same Trump entity, CIC Digital, linked to the cryptocurrency wallet containing his Ethereum assets.
Though Trump’s overall net worth is estimated to be around $2.5 billion, the business magnate seems keen on diversifying his portfolio by delving into cryptocurrency. This stance is noteworthy, given Trump’s past skepticism about Bitcoin and other cryptocurrencies. In a tweet from April 2019, he expressed his reservations, branding them as lacking inherent value and susceptible to facilitating illicit activities.
On the other hand, Trump’s NFT venture has also managed to avoid the legal scrutiny that has befallen other areas of the cryptocurrency industry. While the SEC has been actively pursuing regulatory measures against celebrity endorsements in the broader crypto realm, it has refrained from targeting NFT creators and enterprises.
In conclusion, the revelation of Trump’s Ethereum assets connected to his NFT venture marks a significant twist in the cryptocurrency narrative, showcasing his ability to tap into unconventional revenue streams with his business acumen.