Trump: from sceptic to crypto whale

WEB DESK: Recent disclosures have unveiled that former U.S. President Donald Trump has significantly increased his Ethereum holdings, with estimates suggesting he owns over $2.8 million in cryptocurrency. 

This revelation contrasts sharply with earlier records, which indicated Trump held between $250,000 to $500,000 in an Ethereum wallet.

The updated figures were shared by the nonprofit watchdog, Citizens for Responsibility and Ethics in Washington (CREW). They further highlighted that Trump made a staggering $4.8 million from licensing fees associated with nonfungible token (NFT) collections that used his image. This means Trump’s total earnings from his crypto ventures amount to around $7.6 million.

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Interestingly, these new figures come after reports last week that suggested Trump had up to $500,000 worth of Ethereum. Furthermore, Trump’s involvement in the cryptocurrency world seems to be deepening, as he is listed as the manager, president, secretary, and treasurer of CIC Digital LLC, a company connected to his NFT ventures.

Trump’s foray into the crypto world is not without its ironies. 

In the past, the billionaire real estate mogul has expressed scepticism towards cryptocurrencies, even going as far as suggesting that they “may be fake” and are a “disaster waiting to happen.” He has been particularly critical of Bitcoin, stating it “seems like a scam” and expressing his dislike for it “because it is another currency competing against the dollar.”