Donald Trump Holds $3.6M in Ethereum, Eyes Crypto-Friendly Policies for 2024 Campaign

According to a recent financial statement, former president Donald Trump possesses cryptocurrency, specifically Ethereum, valued between $1 million and $5 million.

Citizens for Ethics was able to obtain this disclosure, which shows that Trump has substantial assets in his “virtual Ethereum key cryptocurrency wallet.”

Trump’s Surprising Crypto Holdings: $3.6M in Ethereum and Meme Coins

Archam Intelligence’s analysis indicates that his Ethereum holdings are worth about $3.6 million. The sum comprises $372,000 in a meme coin called Trog (TROG), which has an image of a frog wearing a MAGA hat, $1.29 million in Ethereum (ETH), and $986,000 in Wrapped Ethereum (WETH).

As per a to a recent personal financial disclosure obtained by ethics watchdog Citizens for Ethics, Trump declared holdings of between $1M and $5M in #Ethereum-based crypto assets.

Blockchain analytics platform Arkham Intelligence has pinned Trump’s holdings at around $3.5M. pic.twitter.com/aucDsHBqlW

— Cointelegraph (@Cointelegraph) August 16, 2024

In addition to owning bitcoin, Trump has earned about $7.15 million from a license agreement with NFT INT, LLC.

Non-fungible tokens (NFTs) called Trump Digital Trading Cards feature images of the president in various honourable and nationalistic contexts.

The creation and marketing of these NFTs are covered under this agreement. These NFTs came out in two series: the first in December 2022 and the second in April 2023.

From Critic to Crypto Advocate: Trump’s Shift in Digital Asset Strategy

Despite their early success, NFTs have seen value volatility, particularly after the release of the second series and the more than twofold increase in the total number of tokens accessible.

The fact that Trump is now involved in the bitcoin industry marks a significant shift from his prior positions. He recently changed his stance from openly opposing cryptocurrencies like Bitcoin to supporting digital assets.

Now, his stance on cryptocurrency will play a significant role in his 2024 presidential campaign.

At the Bitcoin 2024 conference in Nashville, Trump declared that if elected, he would create a national Bitcoin reserve and make the US the “crypto capital of the world” by enacting laws that encourage the cryptocurrency industry.

Donald Trump Owns Millions of Dollars in Ethereum, Filing Reveals
► https://t.co/ZHdq1hYPDT https://t.co/ZHdq1hYPDT

— Decrypt (@decryptmedia) August 16, 2024

His bitcoin holdings may not account for much of his estimated $7.5 billion net worth (according to Forbes), but they do show his growing interest in digital assets.

This shift in perspective aligns with the broader pattern of cryptocurrencies gaining traction and being incorporated into conventional banking.

Along with the money he receives from his golf club and Mar-a-Lago resort in Doral, Florida, and from the sales of branded Bibles, Trump has generated significant gains from his cryptocurrency endeavours.

Because all of the money he has earned from the cryptocurrency and NFT businesses has gone toward his whole financial portfolio, he is one of the wealthiest people in these areas.

Eric Trump’s Role and the Trump Family’s Growing Influence in Crypto

Eric Trump, the executive vice president of the Trump Organization and son of President Trump, has also demonstrated a strong willingness to promote cryptocurrencies and decentralized finance (DeFi).

He has alluded to an impending cryptocurrency project that could involve digital real estate and completely upend the banking and financial sector.

This project is expected to disrupt the current financial system and provide financial independence, as the Trump family feels they have been treated unfairly by it.

As Trump continues to research and participate in the digital asset area, his financial disclosures show how his opinions on money and technology are evolving, positioning him as a significant participant in the cryptocurrency space.