Trump holds up to $500,000 in crypto assets

A newly disclosed financial disclosure form submitted to a federal ethics agency reveals that former US president Donald Trump possesses a substantial stake in the world of cryptocurrency, with holdings potentially valued at up to half a million dollars.

The Office of Government Ethics received a comprehensive filing that detailed the assets and income sources of Trump.

Amid the 82-page document, an intriguing revelation came to light on the penultimate entry: a mention of a "cryptocurrency wallet (Ethereum)" with an estimated value ranging from $250,000 to $500,000. This wallet appears to be linked to a series of non-fungible tokens (NFTs) that were launched by Trump's campaign in December 2022 as part of his effort to secure the presidency in 2024, following his previous defeat to President Joe Biden in 2020.

The NFTs, which function as virtual trading cards showcasing Trump portrayed as a superhero, cowboy, or astronaut, were initially priced at $99 each.

Sales of these tokens gained momentum in subsequent months, even after Trump faced his first indictment by a state court in New York. However, the value of the NFTs experienced a decline after a second batch was launched in April, impacting the worth of the initial set.

The revelation of Trump's cryptocurrency holdings stands in stark contrast to his history of critical remarks about digital currencies. Despite his public scepticism, the disclosed cryptocurrency wallet indicates a notable financial involvement.

During his time in office, he expressed his views on cryptocurrency only once, stating in a July 2019 tweet, "I am not a fan of Bitcoin and other cryptocurrencies." However, former White House communications director Anthony Scaramucci later raised doubts about whether Trump personally authored the tweet, as it has since been deleted.

Trump's expressed aversion to cryptocurrencies diverges from the pro-crypto stances adopted by certain members within his Republican Party. Despite his reservations, numerous GOP figures, including Miami Mayor Francis Suarez, entrepreneur Vivek Ramaswamy and Florida Governor Ron DeSantis have embraced cryptocurrencies and their potential for economic growth.

Meanwhile, Trump remains the dominant force within the party's opinion polls, maintaining a lead over other contenders who have been more vocally supportive of cryptocurrencies.

On the Democratic side, a few candidates have demonstrated support for cryptocurrency adoption. Long-shot Democratic Party candidate Robert F. Kennedy Jr. has expressed public backing for digital currencies. His stance is particularly notable given his family's ownership of about 14 Bitcoins, which he revealed after previously denying any involvement in cryptocurrency investments.