Donald Trump raked in over $7M from NFTs, new disclosure shows

Tom Mitchelhill3 hours agoDonald Trump raked in over $7M from NFTs, new disclosure showsFormer president Donald Trump disclosed that he owns up to $5 million in crypto and has earned over $7 million from his three NFT collections.658 Total views2 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTCOINTELEGRAPH IN YOUR SOCIAL FEEDFollow ourSubscribe onA new financial disclosure has revealed that United States presidential candidate Donald Trump owns up to $5 million in crypto and has netted over $7 million from his foray into non-fungible tokens (NFTs). 

According to a personal financial disclosure obtained by ethics watchdog Citizens for Ethics, the former president declared holdings of between $1 million and $5 million in Ethereum-based crypto assets.

Additionally, Trump disclosed that he had earned more than $7.15 million from his three NFT collections, which include the criminal indictment-geared “Mugshot" project and two separate series of Donald Trump Trading Cards collections.Trump disclosed owning up to $5 million in crypto. Source: Citizensforethics

Trump hinted at releasing a fourth NFT series on July 16, telling Bloomberg that “the people want” him to release another one.

Trump recently released a line of “official crypto-sneakers” on Aug. 1, with a limited edition run of 1,000 orange hi-tops shoes selling out in a few hours despite the $499 price tag.

Blockchain analytics platform Arkham Intelligence pins Trump’s Ethereum-based crypto holdings at $3.5 million at the time of publication.Donald Trump holds $3.5 million in ETH-denominated assets. Source: Arkham Intelligence

Trump’s onchain crypto holdings briefly soared as high as $18 million in June amid an outsized rally in the price of a MAGA memecoin sporting the ticker “TRUMP.”

The TRUMP memecoin was launched in August to donate to US veterans and protect children. While it bears the former president’s name, it is not officially affiliated with or endorsed by Donald Trump.Trump’s crypto holdings soared to $18 million in July amid the TRUMP token rally. Source: Arkham Intelligence.

Outside of crypto, the disclosure also showed Trump made over $300,000 from selling a series of branded bibles and a combined $216 million from the Mar-a-Lago resort and his self-branded golf course in Doral, Florida.

Related:Donald Trump declares US must not settle for ‘second place’ in crypto industry

It’s a bit of a jump from August 2023, when Trump disclosed owning over $2.8 million in Ethereum-based crypto assets and reported earnings of more than $4.8 million from NFTs.

Trump is legally obligated to submit comprehensive financial disclosures while running for a position in the federal office of the United States.

Once a critic of Bitcoin and crypto, Trump has become an outspoken advocate of digital assets in recent months, establishing a pro-crypto position as a key part of his 2024 election campaign.

Speaking at the Bitcoin 2024 conference in Nashville, Trump promised to create a national Bitcoin stockpile and establish the US as the “crypto capital of the world” by implementing a series of crypto-friendly policies if elected president.

Magazine:Crypto exposes sudden rift among Democrats months ahead of election# Cryptocurrencies# Politics# Business# Ethereum# Investments# US Government# United States# Donald Trump# NFTAdd reaction