Recent data has revealed that former US President, donald trumphas a significant amount Ethereum, the second largest cryptocurrency by market capitalization. The discovery sparked debate in the crypto community, as Trump has publicly criticized cryptocurrencies in the past.
According to documents, Trump has between $250,000 and $500,000 in Ethereum and may be navigating the decentralized finance (DeFi) universe to explore cryptocurrencies as a tool to fund a potential presidential race in 2024.
DeFi platforms, known for their ability to operate outside of the traditional financial system, promise more anonymous transactions. This, in theory, could allow Trump to raise money from his constituents.
Another fact confirming the investment in Ethereum is the collection of NFTs that Trump launched in 2022. The “Trump Digital Trading Cards” collection was launched last December and each art reached a price of 0.84 ETH.
The amount Trump has in Ethereum could therefore come from the sale of his collection, with a previous disclosure stating that he had income of up to $1 million from the digital assets.
According to the report, Trump earned about $298,000 in licensing fees selling NFTs, and he still holds them in cryptocurrencies rather than converting them to US dollars.
Do as I say, not as I do
Trump’s public stance on cryptocurrencies has been ambiguous, to say the least. Despite his apparent financial interest, the former president has made scathing statements about the digital world, labeling cryptocurrency a “fraud” and declaring that bitcoin “isn’t money.”
Such comments seem contradictory given the recent insight into their own Ethereum investments.
Another twist to this plot involves a cryptocurrency called “Trumpcoin”. Even without any direct ties to the former US president, the coin has prompted the Trump family to take legal action, citing misuse of their trademark.
The Trumpcoin dispute highlights the sensitivities at play and suggests that the Trump family’s stance in the crypto space may be as much about branding as financial interests.
So Donald Trump’s relationship with cryptocurrencies is complex. While showing signs of acknowledging the industry’s monetary value, as his investment in Ethereum suggests, Trump has not shied away from questioning the authenticity and viability of cryptocurrencies.
The legal battle over “Trumpcoin” is just another chapter in this already multifaceted story. What is certain is that the relationship between politics and cryptocurrency in the US has been and will continue to be a subject of intense research and debate.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
