In the recent financial disclosure report released last month, it was revealed that former President Donald Trump possesses assets valued between $250,000 and $500,000 in a cryptocurrency wallet.

This cryptocurrency wallet, identified as “cryptocurrency wallet (Ethereum)” on Trump’s disclosure, appears to be linked to a collection of non-fungible tokens (NFTs). These NFTs were part of a set that Trump marketed subsequent to his departure from the White House.

In December 2022, Trump declared the launch of a “limited edition collection” consisting of 44,000 NFTs that featured cartoon-style trading cards portraying him in various roles like a hunter in camouflage, a welder in protective gear, and a superhero outfit. Priced at $99 per card, the entire collection was sold out within a day. Trump, alongside his partner, a company named NFT INC LLC, subsequently introduced a second batch in April, which also sold out.

The sales from these NFTs are estimated to have generated over $8.9 million. From this venture, the former president garnered $298,000 in licensing fees. His cryptocurrency wallet falls under the same entity, CIC Digital, through which he received his licensing earnings.

For someone with an estimated net worth of $2.5 billion like Trump, a few hundred thousand dollars might seem inconsequential. Nonetheless, he has been willing to engage in profit-making endeavors, even if they involve promoting a product he previously criticized. In April 2019, he tweeted, “I am not a fan of Bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated crypto assets can facilitate unlawful behavior, including drug trade and other illegal activity.”

While the Securities and Exchange Commission (SEC) has become more active in overseeing the broader cryptocurrency industry, targeting celebrity endorsers such as Kim Kardashian, it has been less inclined to take action against NFT creators and companies. This suggests that Trump’s NFT venture is unlikely to contribute to any legal troubles he might face.

Spokespeople for Trump did not provide a comment upon request. The existence of Trump’s cryptocurrency holdings had been previously reported by Bitcoin.com.

In another news Revolut has  stop crypto services for U.S. customers and Litecoin (LTC), losses more than 6% in price after block reward halving

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By 4niso

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