The disclosure reveals that Trump owns assets ranging from $250,000 to $500,000 in cryptocurrency wallets, specifically tied to a collection of non-fungible tokens (NFTs). These NFTs show a series of cartoon-style trading cards featuring Trump in a variety of outfits, from fighter camouflage to a superhero costume.
The NFTs were first introduced in December 2022 as a “limited edition collection” of 44,000 cards, priced at $99 each, which promptly sold out within a day. A subsequent batch in April had similar success.
Revenue from the NFT venture appears to be over $8.9 million, with Trump reportedly earning $298,000 in licensing fees. The wallet unveiled, held under Trump entity CIC Digital, shows an intriguing dichotomy in Trump’s relationship with cryptocurrency.
Despite once labeling cryptocurrencies as “no money” and expressing skepticism about their value, Trump has invested significantly in Ethereum-pegged NFTs.
This revelation has sparked speculation about Trump’s possible interest in decentralized finance (DeFi) and the role of cryptocurrency in financing his potential presidential campaign in 2024. Such platforms offer anonymity, allowing funds to be raised discreetly.
To further complicate matters, the Trump family has taken legal action against a cryptocurrency called “Trumpcoin”, alleging that their name has been used in an unauthorized manner. This legal stance reflects Trump’s mixed views on the cryptocurrency space, where he acknowledges its financial potential while criticizing its legitimacy.
As the Securities and Exchange Commission (SEC) tightens its oversight of the cryptocurrency realm, especially celebrity endorsement, Trump’s NFT venture is unlikely to exacerbate its legal challenges.
DISCLAIMER: The information on this website is intended as general market commentary and does not constitute investment advice. We recommend that you do your own research before investing.
