Former President Donald Trump provided details about CIC Digital LLC, a company that receives licensing fees for utilizing his likeness on non-fungible tokens (NFTs).
What Happened: The disclosure revealed that CIC Digital LLC possesses a US bank account with a balance of less than $1,000.
Additionally, the company holds an Ethereum ETH/USD wallet containing an estimated value ranging from $250,000 to $500,000, Bloomberg reported.
These details were part of a revised financial filing submitted by Trump on July 13. The filing provides specifics on almost one hundred income sources, totaling over $1.2 billion.
The sources of income include foreign business activities, speaking fees, and earnings generated from a Florida-based golf course. Melania Trump, the former First Lady, reported earning $1.2 million from her speaking engagements.
Why It Matters: In the realm of NFTs, data from OpenSea reveals a notable increase in sales of Trump-branded digital assets. The sale volume of the Trump NFT Trading Cards saw a surge of 17%, while the floor price experienced a modest 2% rise, trading at 4.18 ETH.
It is also worth noting that the former President garnered a six-figure income from NFT sales in 2022. His financial disclosure form, made public by the watchdog group CREW in April, discloses earnings ranging from $100,001 to $1 million from NFT transactions.
In December 2022, Trump made headlines by announcing his debut NFT collection, consisting of digital “trading cards” portraying cartoon illustrations of himself in heroic poses and outfits. The collection featured unique cards, including one showcasing him in a spacesuit donning sunglasses, and another depicting him as a superhero shooting lasers from his eyes.
Priced at $99 per card, the former president touted the release as a “major announcement.” The collection of 45,000 NFTs completely sold out within a day, as reported by the hosting website.
Price Action: At the time of writing, ETH was trading at $2,009 up 8% in the last 24 hours, data from Benzinga Pro shows.
Read Next: Bitcoin, Ethereum, Dogecoin Fall After CPI Data Comes Out: Analyst Foresees ‘Deeper Decline’ For King Crypto After This ‘Savage’ Move
Join Benzinga’s Future of Crypto in NYC on Nov. 14, 2023, to stay updated on trends like AI, regulations, SEC actions & institutional adoption in the crypto space. Secure early bird discounted tickets now!