President Donald Trump Has $2.4 Million ETH in His Wallet: Reports

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President Donald Trump Has $2.4 Million ETH in His Wallet: Reports

A new financial document has emerged showing that Donald Trump holds up to $2.4 million ETH in his Ethereum wallet. This is more than the previously reported data which showed that he held between $250,000 to $500,000 in an Ethereum wallet.

The document was shared on August 14 by Citizens for Responsibility and Ethics in Washington – a nonpartisan government accountability watchdog. Accordingly, the document also shows that the former President made over $4.8 million in profit from partnership and licensing fees connected to NFTs using his image.

Even though the document did not disclose additional assets contained in the wallet, the $2.4 million reported is significantly larger that the previously reported figure of $250,000 to $500,000 in an April 14 filing.

This information clearly underscores a shift from Trump’s initial anti-crypto positions regarding the nascent asset class. Recall that Donald Trump had previosuly descrbied cryptocurrency as a “disaster waiting to happen” and stressing that it might be fake.

In fact, in a July 2019 thread, the former US President openly disclosed that he is not a fan of Bitcoin and other cryptocurrencies, adding that unregulated crypto assets can bring about unlawful activities like drug trade and other illegal activities.

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Furthermore in the thread, he also affirmed the strength and position of the dollar as compared to cryptocurrencies.

“We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!” he said.

$4.6 Million earned in profits from Non-fungible tokens (NFTs)

Meanwhile, Donald Trump has been involved in NFTs with records showing that he has earned substantially up to the tune of $4.6 million. His business, CIC Digital LLC, and NFT INT LLC entered into a license arrangement for the NFT that was the source of this money.

The NFT collections are now owned and managed by Trumps company and its affiliates. Two NFT collections were created with his name, likeness, and image. Since the release, the collections has gathered attention across the NFT and crypto community at large.

Ultimately, the revelation of Trumps digital asset holdings comes as a shock and a positive news to the crypto community as it underscores the growing impact and acceptance of the digital asset. However, it is still yet to be seen the potential effect this news will have on the crypto market.

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Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.