Trump has earned $2.4 billion from crypto ventures since 2022 through NFTs token sales and partnerships.
His crypto gains make up 43.5% of his known political career wealth and continue to draw scrutiny.
Federal agencies under his administration have eased actions against major crypto firms and shifted regulations.
US President Donald Trump has earned an estimated $2.4 billion from crypto-linked ventures since 2022, according to The New Yorker. The report shows his income spread across non-fungible tokens, token sales, international deals, mining firms, treasury holdings, and digital currencies. Trump’s NFT collections brought in about $14.4 million.
https://twitter.com/Cointelegraph/status/1955419107446198286
Token sales via World Liberty Financial generated $412.5 million. Deals with the United Arab Emirates contributed $243 million. His partnership with Bitcoin mining company American Bitcoin added $13 million. Trump Media and Technology Group, holding Bitcoin as treasury assets, gained $1.3 billion. The Official Trump memecoin generated $385 million.
Impact on Personal Wealth
The combined earnings represent 43.5% of Trump’s known personal wealth during his political career. While these ventures are linked to him, the operations are often managed by advisers or family members.
The size of such profits is significant considering his arguably negative views on the matter of crypto currencies. Trump explained in 2019 that he was concerned about volatility and potential links to criminality.
Concerns Over Ethics and Influence
The growth of Trump’s crypto income has sparked renewed conflict-of-interest concerns. Democratic lawmakers have raised objections to his involvement, especially in memecoin-related activities. They have organized protests against the president’s memecoin and a USD1 stablecoin linked to his network.
The demands of inquiries have come since, with the talk of possible impeachment, albeit this is not really possible considering the republican dominated house. They also warned of risks involving foreign actors using digital assets to gain influence without public disclosure.
Policy Shifts Under His Administration
Under Trump’s administration, several federal agencies have shifted their stance toward the cryptocurrency sector. The investigations and enforcement actions carried out by the Securities and Exchange Commission against several crypto companies including Coinbase and Uniswap has ended.
An attempt has also been made to the debanking of crypto-related companies in the country. This new policy has received support as well as criticism as there have been great divisions on whether to regulate digital assets .
The fact that the Trump associated businesses continue to increase in the number and the scope of crypto-related activities leads to a conclusion that there will be a further change in attitude toward the field on the part of Trump.
