Trump's Ethereum Stash Grows By $91K To Reach $2.7M – Benzinga

0

Former President Donald Trump, who is a Republican candidate for the upcoming Presidential election, has witnessed a substantial increase of $91,000 in his Ethereum ETH/USD holdings since he launched his NFT collection in December 2022.
What Happened: According to data provided by Arkham Intelligence, Trump’s Ethereum wallet currently holds a total of 1,553 ETH. As the price of Bitcoin BTC/USD and Ethereum has surged in recent times, it has resulted in the growth of Trump’s NFT holdings by over $91,000.
This resurgence in the cryptocurrency's worth was fueled by renewed hopes for Securities and Exchange Commission (SEC) ETF approval and market optimism following the dismissal of charges against two Ripple executives in the XRP lawsuit.
Recent information obtained by the governmental ethics watchdog group, Citizens for Responsibility and Ethics in Washington, indicates that Trump possesses a cryptocurrency wallet holding approximately $2.8 million worth of Ethereum as of early August. This figure now stands close to $2.71 million.
Will The SEC Finally Approve Long-Awaited Bitcoin Spot ETF? Ask industry experts directly at Benzinga's Future of Digital Assets event happening in NYC on Nov. 14, 2023. Be a part of the discussions where you won't just be a passive spectator. Don't let this chance slip away – secure early bird discounted tickets now!
See More: A Stay At The Floating Palace From James Bond's ‘Octopussy

Why It Matters: Despite expressing skepticism towards cryptocurrencies during his presidential term, Trump has actively engaged with the crypto industry. Last year, he launched a non-fungible token (NFT) project called “Trump Digital Collectible Cards,” which featured exclusive images of himself. This project gained significant popularity, leading to the release of a second series of collectibles in April, which also quickly sold out.
Official documents indicate that Trump earned $4.87 million in licensing fees from his NFT collection.
Price Action: At the time of writing, ETH was trading at $1,700, up 4.00% in the last 24 hours, according to Benzinga Pro.
Photo by Evan El-Amin on Shutterstock
Read Next: Here’s How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

source

Leave a Reply

Your email address will not be published. Required fields are marked *