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Former President Donald Trump looks on during the First Pro-Am at the LIV Golf Invitational – Bedminster at Trump National Golf Club on August 10 in Bedminster, New Jersey. (Photo by Mike Stob/Getty Images)

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According to a financial disclosure released last month, Donald Trump has assets between $250,000 and $500,000 in cryptocurrency wallets.

The asset, listed in Trump’s disclosure as a “cryptocurrency wallet (Ethereum),” appears to be linked to a collection of non-fungible tokens, or NFTs, that he marketed after leaving the White House.

In December 2022, Trump announced he was releasing a “limited edition collection” of 44,000 NFTs representing cartoon-like trading cards, depicting Trump in various getups, such as hunter’s camouflage, a welder’s suit And a superhero costume. The $99 cards sold out in a day. Trump and his partner, a company called NFT INC LLC, issued a second batch in April. That too sold.

Sales appear to have exceeded $8.9 million. According to the disclosure, the former president earned $298,000 in licensing fees from the venture. His wallet is kept under the same Trump entity through which he collected his licensing fees, CIC Digital.

A few hundred thousand dollars amounts to out-of-pocket expenses for Trump, which is estimated to be worth $2.5 billion. But the real estate tycoon isn’t above making an easy buck, even if it means selling a product he doesn’t particularly admire. ,i’m not a fan of bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on air,” he tweeted in April 2019. “Unregulated crypto assets can facilitate illegal behavior, including the drug trade and other illegal activities. “

The Securities and Exchange Commission has recently taken a more active role in regulating the broader cryptocurrency industry following celebrity endorsements like Kim Kardashian. But the regulatory agency has largely avoided taking action against NFT creators and companies, meaning Trump’s NFT venture probably won’t add to his legal woes.

Trump spokesmen did not respond to requests for comment. The existence of Trump’s crypto holdings was first reported by Bitcoin.com.

Source: www.forbes.com

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