Former U.S. President Donald Trump’s Ethereum wallet now holds assets worth over $2.8 million, a significant increase from the previously disclosed amount of between $250,000 and $500,000 in April.
According to an article by Cointelgraph published earlier today, this revelation came to light in a press release shared on 14 August 2023 by the nonprofit watchdog Citizens for Responsibility and Ethics in Washington.
The financial disclosure reports further highlighted that Trump earned over $4.8 million from licensing fees associated with nonfungible token (NFT) collections that utilized his image. In total, Trump’s earnings from cryptocurrency-related activities amount to approximately $7.6 million.
These financial disclosures come at a time when Trump is considering a return to politics, eyeing the White House in the 2024 elections. His 2020 bid saw him lose the presidency to the current U.S. President, Joe Biden.
However, the financial revelations are not the only headlines Trump is making. On the same day as the financial disclosure, news broke about Trump’s indictment in Georgia. The charges allege that Trump and his supporters conspired to interfere with the 2020 presidential elections.
Interestingly, Trump’s increasing involvement in cryptocurrency contrasts with his past statements on the subject. The former president, who made his fortune in real estate, has previously expressed skepticism about cryptocurrencies. He once remarked that digital currencies “may be fake” and described them as a “disaster waiting to happen.” Trump has been particularly critical of Bitcoin, labeling it as a potential “scam.” He also voiced concerns about Bitcoin being a competitor to the U.S. dollar, stating his preference for the traditional currency over the decentralized digital asset.
Back in December 2022, when the “Trump Digital Trading Cards” NFT collection got launched, Trump talked about these NFTs during an interview on One America News (OAN) show “Weekly Briefing With Chanel Rion”.
“Well, I knew nothing about them, and then a group came. And I loved the art. They showed me the art… it’s comic book art when you think of it, but they showed me the art, and I said I always wanted to have a 38-inch waist, but I’m looking at this stuff, and I am saying, ‘that’s sort of cute, that might sell.’
“They thought it would sell in six months; it sold in six hours. And it set like a record, I understand. It’s been incredible. You know, if you bought a card for $99, I guess it’s much, much higher than that. And I heard the Wall Street Journal or somebody say it was the investment of the year.
“I was criticized, really criticized, when it was announced… I didn’t view it as [an] investment… I thought they were cute. I mean for $99 you’re getting these visions that are very beautiful and interesting, I think. And I viewed it that way, much more so than as an NFT, but NFT was very hot two or three years ago, and then it cooled down…
“So, when they announced it’s NFT, everyone said, ‘What’s he doing that for? That’s so cold.’ And I did it, and I guess it was one of the most successful, maybe the most successful, but it was certainly in terms of speed. The whole thing was sold out almost immediately. Pretty amazing!“