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Trump’s Crypto Wallet Makes $2.8 Million in Income, FEC Filing Shows

Trump’s Crypto Wallet Makes $2.8 Million in Income, FEC Filing Shows

Former U.S. President Donald Trump has provided new data about his crypto income and holdings in a financial disclosure to the Federal Election Commission (FEC). The submission contains information about the balance of an ethereum wallet, which collects proceeds from the sales of Trump-branded non-fungible tokens (NFTs), and the income it produced.

Donald Trump Declares Crypto Wallet With at Least $1 Million in Ethereum

The frontrunner for the 2024 Republican presidential nomination who hopes to win a second non-consecutive term in the White House, Donald Trump, has filed a new disclosure as a candidate which reveals various sources of income that can help him fund his campaign.

Among the major ones are businesses and properties like a company in Miami that owns golf courses and a resort valued at more than $50 million which has generated $145.8 million in income in 2022 and through the end of April of this year, Bloomberg noted in a report.

Federal candidates in the U.S. are required to disclose the value of certain assets and some types of income in broad ranges. These include dividends, capital gains, interest, rent, and royalties, for example. Income from some other sources, such as salaries and speaking fees, must be disclosed in exact amounts.

Trump’s filing shows that a company which made $9.7 million by licensing his image on non-fungible tokens (NFTs), CIC Digital LLC, held a cryptocurrency wallet with at least $1 million in ethereum (ETH), which produced income of $2.8 million.

In a previous disclosure in July, Donald Trump declared that CIC Digital’s wallet had no more than $500,000 and generated no income. At the time, the firm also had a fiat bank account with less than $1,000 in the balance.

The NFTs called Trump Digital Trading Cards, which depict America’s 45th president as numerous characters, including Superman, were launched in December, last year, when the first badge was sold in a matter of hours.

Unlike other hopefuls to become the Republican Party’s presidential nominee, like Florida Governor Ron DeSantis and Vivek Ramaswamy who have been more positive towards cryptocurrencies, Donald Trump has not been keen to embrace bitcoin and the like. During his presidency, he once stated that their value is based on thin air.

Do you think Donald Trump may change his attitude towards cryptocurrencies during this election campaign? Tell us in the comments section below.



from Bitcoin News https://ift.tt/QBREtba
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