According to recently released financial disclosure documents, Former President Donald Trump has an Ethereum balance ranging from $250,000 to $500,000 in a cryptocurrency wallet. This revelation is surprising given Trump's past skepticism of cryptocurrencies.
The Ethereum holdings appear tied to Trump's release of non-fungible token (NFT) digital trading cards featuring illustrations of himself last December. The limited edition NFTs sold for $99 each and quickly sold out, earning Trump up to $8.9 million in sales and $298,000 in licensing fees.
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Trump likely collected the earnings from the NFT sales into the disclosed Ethereum wallet, which is held under the entity that also received the licensing fees, CIC Digital. While the value of Trump's reported Ethereum holdings has fallen along with the broader crypto market downturn in 2022, he still holds up to half a million dollars worth.
The former president has made critical statements about cryptocurrencies in the past, saying he is "not a big fan" and that Bitcoin, the largest cryptocurrency, "just feels like a scam". In 2021 he told Fox Business he prefers fiat currency over crypto.
Trump's anti-crypto stance contrasts with other Republicans who have embraced cryptocurrencies and related policy reform. Major GOP figures like Miami Mayor Francis Suarez, Florida Governor Ron DeSantis, and entrepreneur Vivek Ramaswamy have come out in support of crypto, while congressional Republicans have advanced crypto-friendly legislation.
While Trump remains deeply skeptical of the crypto space, the NFT project has made him both a crypto asset holder and recipient of significant earnings from crypto activities. The former president continues leading the field of potential 2024 Republican presidential contenders.