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Trump’s Ethereum Holdings Surge to $2.7M as Crypto Market Soars

2.7M, Crypto, Ethereum, Holdings, Market, Soars, Surge, Trumps

“Trump’s Ethereum fortune continues to skyrocket as his stash grows by $91K, solidifying his presence in the world of cryptocurrency with an impressive $2.7M.”

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 holdings since he launched his NFT collection in December 2022.

According to data provided by Arkham Intelligence, Trump’s Ethereum wallet currently holds a total of 1,553 ETH. As the price of Bitcoin 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.

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.

At the time of writing, ETH was trading at $1,700, up 4.00% in the last 24 hours, according to Benzinga Pro.

It is interesting to see how Trump’s involvement in the crypto industry has evolved, considering his initial skepticism. The success of his NFT collection and the substantial increase in his Ethereum holdings demonstrate the potential profitability of cryptocurrencies.

As the crypto market continues to evolve and gain mainstream acceptance, it will be fascinating to see how other political figures and influential individuals engage with this emerging asset class.

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