Former President Donald Trump's ownership of an Ethereum wallet containing approximately half a million dollars recently came to light. However, new financial disclosure filings submitted to the Office of Government Ethics reveal that his cryptocurrency holdings may be considerably larger. Categorized as a notable crypto skeptic, Trump's stance is intriguing as he now appears to fall into the 'whale' category.
In a recent release of financial disclosure documents, Trump's ownership of an Ethereum wallet holding a sum exceeding $2.8 million in cryptocurrency has been revealed. The updated value was brought to public attention by the ethics-focused group Citizens for Responsibility and Ethics in Washington (CREW), who shared the findings on Twitter this Tuesday.
The disclosed information also indicated that Trump garnered nearly $4.9 million in licensing fees through a series of non-fungible tokens (NFTs). These tokens were introduced as part of his campaign's endeavor to secure a return to the White House in the 2024 election, following his earlier loss to the current President, Joe Biden, in 2020.
The tokens gained significant momentum in the months following their December release, experiencing a notable surge, particularly after Trump faced his initial indictment by a state court in New York. However, their value took a downward turn following the introduction of a second batch in April, which led to a decline in the worth of the initial set.
Trump's substantial holdings of these tokens position him as a crypto 'whale,' a term reserved for individuals who possess substantial amounts of a specific token. This is an ironic development given Trump's prior characterization of cryptocurrency as a "scam" and a "very dangerous thing."
In a December 2021 interview with Fox Business, Trump expressed his reservations about cryptocurrency, stating, "I never loved it because I like to have the dollar. I was never a big fan, but it's building up bigger and bigger and nobody's doing anything about it. I want our currency called the dollar."
Trump's positions diverge from those of his fellow Republicans, who have advocated for fresh legislation in Congress that has generally been well-received by the cryptocurrency sector. This stance also contrasts sharply with the pro-crypto viewpoints embraced by his GOP competitors in the 2024 primary race, including Florida Governor Ron DeSantis.
Morgan, D. / N. (2023) Donald Trump Crypto Wallet Holds Over $5 Million, New Filings Show, Decrypt. Available at: https://decrypt.co/152628/donald-trump-crypto-wallet-holds-over-5-million-new-filings-show (Accessed: 25 August 2023).