Blockchain intelligence powerhouse Arkham Intelligence has recently disclosed that it is vigorously monitoring a cryptocurrency wallet believed to belong to former US President Donald Trump. The firm’s curiosity was piqued upon discovering that the wallet in question appears to be accruing substantial sums in royalties from non-fungible tokens (NFTs). A financial statement posted by Trump in mid-August 2023 pointed to his cryptocurrency holdings of around $2.8 million, a figure remarkably similar to the current balance of the NFT project’s largest royalty wallet.
The former US President had recently declared ownership of a cryptocurrency wallet holding an estimated $5 million worth in Ether. This hefty sum was allegedly made from NFT licensing fees. However, this wallet, sources claim, received an exact amount of $2.8 million from NFT sales, which, interestingly, far surpassed the previously speculated amount of $500,000.
This discrepancy might stem from the fact that an NFT licensing deal with NFT INT LLC had netted Trump a reported $4.9 million. The company has been critical in two big NFT drops over the last year that grabbed international attention. But it is not all about the money. Trump’s crypto venture has a creative side too.
Last year, his first set of NFTs, aptly named “Trump Cards,” was introduced to enthusiastic fans. This collection of digital cards showcased Trump in various avant-garde poses and situations. The trading volume amassed a whopping $26 million, according to data from OpenSea. Even his more recent “Trump Trading Cards” collection received the same energetic response, each of the 47,000 tokens selling out instantaneously for $99 each.
The ownership of these projects continues to stir the pot, and the affiliations do little to dampen the intrigue. CIC Digital LLC, Trump’s own firm, gave NFT INT LLC the rights to use Trump’s likeness, name, and image in a paid licensing agreement.
Simultaneously, funds from NFT sales won’t be employed for Trump’s presidential campaign. It seems the former president aims to keep his business ventures strictly separate from his political initiatives. His claim in an April filing that he earned up to $1 million from digital card sales emerges consistent with this strategy.
Combined with millions more earned from various speaking engagements, the ex-president seems to be carving out a unique crypto path post-presidency. But with the ingenious blending of politics and technology, one cannot help but wonder if this is just another clever scheme to stay in the limelight or a genuine enthusiasm for the future of blockchain. Will Trump’s crypto journey prompt more politicians to dip their toes into these innovative waters? Only time will tell.
Source: Cryptonews
