Nikolas Sargeant
Donald Trump holds an Ethereum wallet with a value between $250,000 and $500,000. He maintains a neutral stance on central bank digital currencies (CBDCs) compared to his fellow presidential candidates. Additionally, Trump earned approximately $300,000 from licensing fees linked to his non-fungible token (NFT) collection.
The information was shared in a government filing with the United States Office of Government Ethics. This agency aims to prevent conflicts of interest in the executive branch of the US government. The filing includes details about the assets of the former president and also mentions the business interests of his wife, the former first lady Melania Trump.
Trump Backs Crypto Despite Opposing It Previously
The NFT licensing royalties are associated with a collection created by the former president. This collection was launched two years after his loss in the 2020 presidential elections to Joe Biden. Despite Trump's previous opposition to cryptocurrencies due to their potential for criminal use, the sales of his NFTs surged after their launch in 2022.
News of Trump's Ethereum holdings caused the collection's 24-hour sales volume to increase by 18% to $2,879. In early August, Donald Trump was charged by a federal grand jury for alleged crimes including conspiracy to defraud the United States, conspiracy to obstruct an official proceeding, obstruction of official processing, and a conspiracy against voting rights.
Trump Against Crypto, But Silent On Digital Currency
In Iowa, the former president and Republican front-runner diverted attention away from Ron DeSantis, who supports Bitcoin (BTC). If elected, DeSantis and Democrat Robert F. Kennedy aim to encourage the adoption of Bitcoin.
Both individuals are against the implementation of a Central Bank Digital Currency (CBDC) due to concerns about the erosion of civil liberties. Trump, in particular, has expressed his desire to protect the dominance of the US dollar and has directed his treasury secretary to investigate China's use of Bitcoin for evading US sanctions during his previous term. Reports have indicated that China is exploring CBDC experiments with neighboring Asian countries in an effort to distance itself from the US dollar.
Donald Trump and SEC chair Gary Gensler share a pro-dollar stance. Gensler stated in June that cryptocurrencies are unnecessary for Americans since the US already has a digital version of the dollar. During his tenure at the SEC, there have been multiple civil enforcement actions against US crypto companies.
