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Trump’s Crypto Earnings Surge: FEC Disclosure Reveals $2.8 Million Income

Trump’s Crypto Earnings Surge: FEC Disclosure Reveals $2.8 Million Income

Former U.S. President Donald Trump has unveiled a substantial influx of income from his cryptocurrency holdings, according to a recent financial disclosure submitted to the Federal Election Commission (FEC). The document sheds light on the balance of an Ethereum wallet linked to sales of Trump-branded non-fungible tokens (NFTs), as well as the income it generated.

Credit: DepositPhotos

In his pursuit of a potential second non-consecutive term in the White House, Trump, the leading contender for the 2024 Republican presidential nomination, has provided a fresh financial disclosure. The filing details various income sources that contribute to his campaign’s financial backing.

Key components of this income include business interests and properties, notably a Miami-based company that possesses golf courses and a resort valued at over $50 million. These holdings collectively yielded $145.8 million in income throughout 2022 and up until the end of April this year, as reported by Bloomberg.

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U.S. federal candidates are obligated to disclose the approximate value of specific assets and certain types of income within broad ranges. These encompass dividends, capital gains, interest, rent, and royalties, among other categories. Exact amounts of income from sources such as salaries and speaking fees are required to be disclosed.

Trump’s filing brings to light that CIC Digital LLC, a company that generated $9.7 million by licensing his image for non-fungible tokens (NFTs), held an Ethereum wallet with a balance of at least $1 million. This wallet yielded an income of $2.8 million.

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Interestingly, a prior disclosure in July indicated that CIC Digital’s wallet contained no more than $500,000 and generated no income. At that time, the company’s fiat bank account had a balance of less than $1,000.

The NFTs in question, dubbed Trump Digital Trading Cards, portray the 45th U.S. president in various roles, including that of Superman. The cards were launched in December of the previous year, and the first badge sold out within hours.

While some other contenders for the Republican Party’s presidential nomination, such as Florida Governor Ron DeSantis and Vivek Ramaswamy, have exhibited more favorable attitudes toward cryptocurrencies, Trump has not openly embraced assets like Bitcoin. During his tenure as president, he famously remarked that the value of cryptocurrencies was rooted in thin air.

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