Donald Trump is Crypto Whale Holding $2.8 Million in Ethereum Wallet, New Financial Statement Shows

Updated: 16 August 2023

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Former US President Donald Trump is a crypto whale holding $2.8 million in an Ethereum wallet, a new financial statement shows

Trump’s latest declaration was revealed by Citizens for Responsibility and Ethics in Washington on Aug. 14, after an April filing had shown that he held between $250,000 and $500,0000 in an Ethereum wallet.

The new filings disclosed that the NFT collections he released in partnership with CIC Digital as a campaign strategy in his race against President Joe Biden generated almost $4.9 million in licensing fees. Trump earned about $7.6 million from his crypto ventures.

Guess who's been dipping his toes in the crypto pool? Donald Trump's Ethereum stash is reported to be around $2.8 million. And hold on, the former U.S prez raked in up to $4.9 million with his NFT collections and royalties. Trump goes crypto – didn't see that plot twist coming! pic.twitter.com/EDGVd5lYBk

— EmoJinn (@emo_jinn) August 16, 2023

Trump Goes Crypto

To prevent financial conflict of interest, presidential candidates in the US elections are required to file statements disclosing their financial status. These statements detail their assets and their respective worth as well as the amount of income they generate.

To this end, Trump submitted his financial disclosure statements to the Office of Government Ethics (OGE) in April, as required by the Ethics in Government Act.

So far, Trump has released two NFT collections, one in December 2022 and another in April this year. The first collection was made of 44,000 trading cards starring images of Trump in various stances as a superhero, cowboy, astronaut, and many other characters. Each trading card was sold for $99 and the entire collection sold out on the first day.

The second collection had 47,000 unique one-of-one cards, some of which were autographed. This collection also sold out on the first day bringing his total revenue from these collections to about $9.7 million.

Trump’s increased crypto holdings, which give him crypto whale status, raise even more questions about his crypto stance considering he had openly declared his skepticism about it before.

He tweeted in 2019 that he was “not a fan of Bitcoin and other cryptocurrencies,” adding that he did not view it as real money as its value was based on “thin air”.

In July, Trump was required to submit updates to his initial disclosure with the Office of Government Ethics, which covered 2021 and the majority of 2022. These updates included precise figures for his income from his hotels and other enterprises.

The new Federal Election Commission disclosure was originally due on May 15 but Trump requested and was granted two 45-day extensions. The submission is yet to be reviewed and might also undergo revisions if it is found insufficient.

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