Cryptocurrency advocate Donald Trump recently lost a large amount of money in his cryptocurrencies. As a result of the ETH and TRUMP cuts last month, Trump's portfolio shrank to $5.3 million, a loss of more than $3 million, according to Benzinga's article.
Donald Trump's crypto portfolio takes a hit
Former President Donald Trump has attracted media attention for a variety of reasons, but his involvement with cryptocurrencies is one of the more interesting and surprising, according to reports.
Over the past year, Trump has made millions of dollars in cryptocurrencies, but his portfolio has fluctuated due to increased market volatility. The majority of the former president's crypto holdings, which at their peak totaled more than $8.5 million, were in MAGA coins. Nevertheless, the current price is $5.3 million.
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Trump's cryptocurrency collection
Trump's cryptocurrency holdings began with the introduction of the Trump Digital Trading Card, a non-fungible token (NFT) concept. After selling 45,000 NFTs for $99 each in December 2022, President Trump receives royalties from the trading volume. Trump received over 1,800 Ethereum (ETH) and Wrapped Ethereum (WETH) from NFTs.
When 44,000 NFTs, or “limited edition collections” of cartoon-like trading cards containing images of playing cards dressed as superheroes, welders, or hunters, were released, it sparked a wave of speculation across the market. Ta. A day later, all $99 cards were gone. Then, in April of the same year, Trump and his business partner NFT INC LLC launched a second wave. This was also sold out.
According to Forbes, the sale raised more than $8.9 million. The declaration states that the former president received $298,000 in licensing fees from the venture. The same Trump organization that collected his license fees, CIC Digital, now controls his wallet.
Trump's code card: A boon to the election?
President Trump’s recent pro-crypto stance has kept crypto voters focused on future policies toward the segment. However, for now, participating in digital asset trading alone does not seem to be enough to convince crypto voters.
Given the Biden administration's rather tough stance on crypto rules, some may wonder whether crypto voters will support the Biden administration. However, that doesn't seem to be the case. The interests of American voters are evolving. Based on survey data from Coinbase and Morning Consult, Forbes adds that his 22% of respondents who own Bitcoin are Democrats, 18% are Republicans, and 22% are independents.
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