According to Forbes, Former US President Trump Owns $250.000 Worth of ETH

Crypto News – Forbes reports that a financial declaration made public last month revealed former President Donald Trump’s journey into the cryptocurrency realm.

According to Forbes, Former US President Trump Owns $250.000 Worth of ETH

According to the declaration, Trump has assets in cryptocurrency wallets, particularly connected to a group of NFTs that range in value from $250,000 to $500,000. In these cartoon-like NFTs, Trump appears in a variety of disguises, from a superhero to a man dressed in hunter camouflage. These NFTs were first released as a “limited edition collection” of 44,000 cards in December 2022, each costing $99, and they were immediately sold out within a day.

Trump Generates Huge Revenue from License Fees

Trump reportedly collected $298,000 in license fees, and the NFT business appears to have made more than $8.9 million in profits. Trump’s relationship with cryptocurrencies is shown to have an intriguing duality in the published wallet, which is housed under the Trump business CIC Digital.

On the other hand, Trump has made large investments in NFTs that are related to Ethereum, despite having previously called cryptocurrencies “not money” and expressing doubt about their value. It has been suggested that Trump may be interested in decentralized finance (DeFi) as a result of this revelation and that cryptocurrencies may help finance a future 2024 presidential run for him. Since these platforms provide anonymity and allow people to raise funds secretly, Trump’s support could translate into votes for him in a possible candidacy.

Was Trumpcoin Launched Without Permission from the Trump Family?

Further complicating matters, the Trump family filed a lawsuit against “Trumpcoin,” a cryptocurrency, alleging unlawful use of their name. This legal position reflects Trump’s conflicted opinions on the cryptocurrency industry, as he both recognizes and criticizes the legitimacy of the technology.