Former U.S. President Donald Trump appears to have changed his tune on cryptocurrencies, as new financial documents reveal he holds a substantial Ethereum wallet tied to a highly successful NFT venture.
According to recent filings, Trump owns an Ethereum wallet worth between $250,000 and $500,000. This stems from his post-presidency foray into non-fungible token (NFT) collectibles.
Trump’s $99 limited edition NFT trading cards, featuring his likeness in various costumes and themes, sold out twice and brought in $8.9 million in revenue. He also pocketed $298,000 in licensing fees via his company CIC Digital, a collaboration with NFT INC LLC.
While this NFT windfall represents a fraction of Trump’s reported $2.5 billion net worth, it provides insight into his newfound openness toward the crypto sector, which he previously criticized.
Moreover, Trump’s Ethereum holdings appear to be legally compliant, as U.S. regulators do not classify Ethereum as a security. The SEC also excluded Ethereum from recent litigation against crypto exchanges.
This indicates that even former crypto skeptics recognize the opportunities presented by digital currencies and blockchain-based projects. Whether Trump has fully reversed his stance remains uncertain, but his business instincts have again proven sharp in seizing the NFT moment.
So while Trump’s crypto foray may surprise some, the business mogul has demonstrated his knack for tapping into lucrative sectors, even those he once shunned. This time, it is the burgeoning world of NFT collectibles and their intersection with cryptocurrencies.
