- Earlier this week, the 2024 White House contender was discovered to have $2.79 million in a crypto wallet.
- Trump released two NFT collections in the past, both of which have been sold out.
On 16 August, blockchain intelligence firm Arkham Intelligence tweeted that it was tracking the crypto wallet which reportedly belongs to former U.S. President Donald Trump.
The wallet held a total of $2.79 million in Ethereum [ETH] at press time.
Donald Trump’s crypto holdings are now on Arkham.
We believe @realDonaldTrump owns the wallet 0x94845333028B1204Fbe14E1278Fd4Adde46B22ce
This is supported by information from his financial statement filed on August 14th. pic.twitter.com/SHZ3kxrnOe
— Arkham (@ArkhamIntel) August 16, 2023
Early this week, it was discovered that Trump held up to $500,000 in an Ethereum wallet, as per an April filing with the U.S. Office of Government Ethics.
Trump was later discovered to have $2.79 million in a crypto wallet, according to official documents received by the Citizens for Responsibility and Ethics in Washington. He also made $4.9 million in licensing fees with NFT INT LLC from his NFT collection.
The amount mentioned above is the same as the one deposited in the wallet Arkham is referring to.
The former president released his first NFT collection, called “Trump Cards,” in December 2022. He released his second NFT collection in April 2023. Both of these NFT collections were completely sold out.
How crypto figures in the 2024 U.S. Presidential elections
Trump is the leading Republican contender for the 2024 U.S. Presidential elections. Other Presidential hopefuls are also expressing their opinions on cryptocurrency as it becomes a topic of contention among politicians in the U.S.
Democratic candidate Robert F. Kennedy Jr. vowed to back the USD with Bitcoin [BTC] and exempt the token from capital gains taxes if he is elected President. In July, CNBC revealed that he owned up to $250,000 in BTC tokens. Earlier, he had claimed that he did not own BTC.
Another Republican candidate, Ronald DeSantis, has vowed to put a ban on central bank digital currencies (CBDCs) if elected.
Donald Trump stirs crypto market
The market reacted to the news of Trump holding crypto with a lot of excitement in the last 24 hours. The number of social interactions related to Trump’s ETH holdings triggered up to 5.6 million interactions per hour, as per LunarCrush.
Donald Trump’s $2.8 million in $ETH holdings is causing Ethereum to trend with a massive 5.6 million interactions per hour across social posts.https://t.co/TYh2loDIBx
— LunarCrush (@LunarCrush) August 16, 2023
However, the news of Trump facing indictment is making more buzz than him holding crypto.
On 16 August, Fortune reported that Trump has been indicted on a total of 91 federal and state charges. All of these charges entail a potential prison time of around 717.5 years. Any such action would put a stop to his race to join the White House again.
