Former President Donald Trump is apparently an Ethereum ETH/USD whale as he is now reported to own up to $5 million worth of ETH in a wallet.
What Happened: This information was revealed in certified financial disclosures for 2023 that were posted online by the organization Citizens for Responsibility and Ethics in Washington (CREW).
An Ethereum whale refers to an individual or entity that holds a significant amount of the ETH. These whales have substantial influence on the market due to their ability to make large transactions and potentially impact the price and market dynamics of Ethereum.
The disclosures also indicated that Trump earned $2.8 million from his ETH holdings. Trump has reportedly also earned more than $4.8 million from licensing fees associated with nonfungible token (NFT) collections that feature his image. Overall, his involvement in crypto-related ventures has resulted in a net profit of around $7.6 million for Trump.
These new disclosures come after news reports last week revealed that Trump had up to $500,000 worth of ETH.
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Why It Matters: It is worth noting that Trump has expressed skepticism towards cryptocurrencies in the past, referring to them as not being real money and having volatile value “based on thin air.”
“NFT INT LLC is not owned, managed or controlled by Donald J. Trump, The Trump Organization,” according to the site. “NFT INT LLC uses Donald J. Trump’s name, likeness and image under paid license from CIC Digital LLC.”
As per the disclosures posted by CREW, Donald Trump is listed as the manager, president, secretary, and treasurer of CIC Digital LLC.
Price Action: At the time of writing, ETH was trading at $1,829, down 0.29% in the last 24 hours, according to Benzinga Pro.
Photo Courtesy: Shutterstock.com
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