Donald Trump owns up to $5 million in crypto and has earned over $7 million from his NFT collections, according to a new financial disclosure.
U.S. presidential candidates must disclose their financial holdings and sources of income so the public can identify any potential conflicts of interest.
Donald Trump has declared holdings of up to $5 million in Ethereum -based cryptocurrency assets and earned more than $7 million from NFT collections, according to a new financial disclosure.
The disclosure document, obtained by ethics watchdog Citizens for Ethics, showed digital assets between $1 million and $5 million are held in a “cryptocurrency wallet, with virtual Ethereum key, held in a cold wallet.”
In addition to Trump’s Ethereum-based holdings, earnings from his NFT collections were also detailed. The document revealed that the U.S. presidential candidate earned over $7.15 million through a licensing agreement with a firm called NFT INT.
Blockchain analysis gives more detailed information on the former president’s cryptocurrency holdings. Arkham Intelligence currently puts the former U.S. president’s Ethereum-based cryptocurrency ownership at over $3.6 million. The top three assets by USD value in Trump’s crypto portfolio are $1.29 million in ether, over $900,000 in WETH, and over $400,000 in GUA token, according to Arkham data.
Trump’s stance on cryptocurrency has evolved since his time in office when he labeled cryptocurrency as a scam. “I am not a fan of bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air,” he stated in a series of social media posts in 2019.
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However, the former president’s views on the sector have significantly changed. In addition to issuing his own NFT collections and his campaign promoting the idea of building a “crypto army,” he has stated that he wants all future bitcoin to be minted in the U.S.
Despite Trump’s involvement with cryptocurrencies, he did not mention the sector during an X Spaces interview with Elon Musk on Monday. Several memecoins inspired by the former president sold off during the interview.
Since then, memecoins inspired by the presidential candidate have ticked lower. Over the past week, MAGA is down 11%, Dark MAGA has dropped 40%, and the intentionally mispelled Doland Tremp has fallen 27%. However, FreeTrump has defied the downtrend, rising 40% over the same period.