Trump Owns Even More Crypto Than First Known, New Documents Show

Aug 16, 2023 at 09:33 pm

Fresh disclosures have revealed that Donald Trump possesses a significantly larger amount of cryptocurrency holdings than what was initially made public. According to official documents received by the governmental ethics watchdog Citizens for Responsibility and Ethics in Washington on Monday, the former president and prominent Republican contender for the upcoming election had approximately $2.8 million stored in a cryptocurrency wallet as of early August.

Furthermore, the filing also indicates that he garnered $4.87 million through licensing fees from his collection of non-fungible tokens (NFTs). This new revelation underscores Trump's deeper involvement in the cryptocurrency realm, surpassing the extent of his previous filings. 

Interestingly, despite his prior skepticism towards cryptocurrencies during his presidency, Trump unveiled an NFT project called "Trump Digital Collectible Cards" last year. This project featured collectible cards adorned with his own images. He subsequently introduced a second series of collectibles in April, both of which sold out swiftly.

These developments coincide with a period where cryptocurrencies are progressively becoming intertwined with the political agenda in the United States, particularly as candidates prepare for the 2024 presidential election. Notably, Democratic hopeful Robert F. Kennedy Jr. has confirmed his ownership of bitcoin (BTC) and expressed intentions to support the U.S. dollar with BTC, also proposing to exempt the token from capital gains taxes if he were to be elected. On the other side of the spectrum, Robert DeSantis, the Republican candidate and Florida governor trailing Trump in early polls, pledged to prohibit central bank digital currencies (CBDCs) should he assume the presidency.

Is this Trump’s wallet?

In the wake of the recent disclosures, the blockchain research firm Arkham Intelligence has revealed its discovery of what appears to be a cryptocurrency wallet associated with Donald Trump.

On Wednesday, Arkham Intelligence posted on Twitter that there is a high likelihood that the 0x94845333028B1204Fbe14E1278Fd4Adde46B22ce address on the Ethereum blockchain belongs to the former president, and it contains a total of $2.8 million worth of Ether (ETH). Additionally, Arkham's findings indicate that Trump also holds smaller amounts of wETH, MATIC, and the USDC stablecoin.

This identification of crypto wallet holdings aligns with the inherent transparency of blockchain technology. The openness of blockchains allows for the public accessibility of crypto addresses, transactions, and their movements, providing the capability to monitor these actions in real-time.

 The cryptocurrency wallet associated with Trump (identified by Arkham)The cryptocurrency wallet associated with Trump (identified by Arkham) 

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