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With a net profit of 10 million US dollars, what are Trump’s “cryptocurrency incomes”?

BlockBeatsBlockBeats2024/08/20 06:51
By:BlockBeats

With a net worth of 4.5 billion, earning money from crypto assets is like picking up a dollar on the ground

Since Biden withdrew from the election, the US presidential election has shown a new round of public opinion. The Financial Times analyzed that Harris' current digital advertising expenditure has reached ten times that of Trump, mainly focusing on the publicity offensive of technology platforms; in addition, in the conversation between Trump and Musk on the evening of August 12, local time, Trump did not talk about anything related to cryptocurrency, which made the market discouraged for a time. At present, Polymarket predicts that Harris's probability of being elected has surpassed Trump by 10%.


If the most concerned issue in the field of cryptocurrency in 2024 is the issue of the US election, the related meme coins are flying across the country, and every meeting of political bigwigs is not left behind, which has once again ignited the prediction market. At the center of this vortex is former US President Trump, who has gone from a crypto-apathetic politician to a new presidential candidate who now supports Bitcoin. Cryptocurrency has become a new breakthrough point for Trump's campaign this year.



In June, Trump met with about a dozen Bitcoin mining executives and experts at Mar-a-Lago. According to CNBC, attendees described his opinions as curious and collaborative, and ordinary people needed to buy Trump NFTs to be eligible to attend the dinner. Last month, Trump was also a heavyweight speaker at the Bitcoin Conference in Nashville, promising to make the United States "the crypto capital of the earth and the Bitcoin superpower of the world" if re-elected.


Forbes estimates Trump's net worth at $4.5 billion. Last week, Trump's latest financial disclosure showed that he earned $7.15 million in NFTs, and he also had at least $1 million to $5 million in crypto assets. The following is how much money Trump has made using cryptocurrency, according to BlockBeats' statistics based on public addresses and information.


Political donations: $5 million in total


In May of this year, Bloomberg reported that the crypto industry had donated $94 million to the 2024 US election, a record high, with most donations coming from political action committees (PACs). On May 21, Trump's US presidential campaign team announced that it would begin accepting cryptocurrency donations, becoming the first major US presidential candidate to accept cryptocurrency as campaign donations.


Currently, two fundraising committees are accepting cryptocurrency donations for Trump's campaign: Trump National Committee JFC, Inc. and Trump 47 Committee.


Public donation address


According to Arkham data monitoring, Trump currently holds more than $3.4 million in crypto assets in his public address, down more than 80% from the high point this year.



The address had a peak of $18 million, mainly due to the surge in Trump-related meme coins.


Trump National Committee


According to Trump's campaign website, 90% of the Trump National Committee's donations were allocated to President Donald J. Trump in 2024 (up to $3,300) and another 10% to the Republican National Committee (up to $413,000).



Coinbase Commerce, Gemini, and Anedot are all processing on-chain donations to the Trump National Committee. The following are the cryptocurrency addresses that belong to the Trump National Committee donations.


Coinbase Address:

0XE7E1AE3800B9D32751BBB3C2D0CE030F829AEF77


Gemini Address:

18UI9MKKLG5AZTHLOKFZLXMBXUJ8KMFWDN

0X42E10319C944C5FB7FCD76BFFB0DD3C3DEB605D8

0X18C8314C9BD4A378E4D612873A1899378EDD671D


Anedot Address:

3EFBD4KDPCEK7HOBUKOXJR2TERJCKBMELK


So far, very few cryptocurrency donations have been made to the Trump campaign through new platforms such as Gemini and Anedot.


Trump 47 Committee


Trump 47 Committee is a joint fundraising committee authorized by Trump for President 2024, Inc., Save America PAC, the Republican National Committee (RNC), and Republican federal accounts in more than 40 states in the United States.


The maximum donation that an individual can make to the Trump 47 Committee is $844,600. Individual donations are allocated according to the following formula:


· The first $3,300 is deposited into the Trump Presidential Primary Account


· The next $3,300 will be transferred to the Trump Presidential General Election Account


· The next $5,000 will go to Save America


· The next $413,000 will go to the RNC


· The rest will be divided among the state Republicans


For example, on June 21, Gemini co-founders Cameron Winklevoss and Tyler Winklevoss donated about $1 million worth of Bitcoin (15.47 BTC) to the Trump campaign, which exceeded the maximum donation limit of $844,600 per person that the 47 committees can legally accept, so $310,800 was returned.


According to OpenSecrets, as of June 30, the top ten political action committees supporting Trump had raised about $255.9 million, but a large part of it came from the traditional financial sector and US dollar donations.


In the second quarter FEC disclosure documents submitted by the Trump campaign, individuals who donated to the Trump campaign through cryptocurrency include the Gemini brothers, Kraken co-founder Jesse Powell, Ripple Chief Legal Officer Stuart Alderoty, BitGo CEO Michael Belshe, and Messari CEO Ryan Selkis, with a total donation of nearly $2.9 million in crypto assets. According to breadcrumbs data, at least $1.8 million worth of BTC has been donated to the Trump campaign since accepting BTC donations in May 2024.



At present, it is impossible to determine Trump's total fundraising situation except based on the chain evidence and FEC documents, but the campaign team will submit FEC documents in the future to explain how much money they raised this quarter, and then they can calculate the proportion of crypto assets in the total donations.


Trump Card NFT Series Revenue: A total of $7.15 million


According to Trump's financial disclosure, in addition to his declared holdings of Ethereum-based crypto assets worth between $1 million and $5 million, Trump also earned more than $7.15 million from three NFT series. In addition, Trump's wife also earned more than $330,000 from the sale of digital trading cards or NFT fees. Trump said in July that he planned to release another series of NFTs.


In December 2022, Trump launched his first NFT series, "Trump Digital Trading Cards", which was priced at $99 each and sold out in less than a day.


Trump Digital Trading Cards Historical Price Chart


In 2023, Trump released two new series of NFTs, "Trump Digital Trading Cards Series 2" and "Mugshot Edition", and launched NFT benefits such as Trump dinners, signed souvenirs, etc.


Trump Digital Trading Cards Series 2 Historical Price Chart


Mugshot Edition Historical Price Chart


OpenSea data shows that in terms of total trading volume, Trump's first two NFT series are more popular, with trading volumes of 15,812 ETH and 22080 ETH respectively. Given that all sales are subject to a 10% royalty from creators, the first series of NFT projects has generated sales of $19 million since its launch, earning $1.425 million after deducting OpenSea's 2.5% fee.


It is unclear how much Trump personally profited from the NFTs, as neither the former president, the PAC, nor his campaign were directly involved in designing or minting the NFTs, which were instead done by a company called NFT INC LLC.


Trump earned $4.9 million from his NFT licensing agreement with NFT INT LLC, the company behind the issuance of Trump’s series of NFTs, which has earned millions of dollars in sales and royalties. NFT INT LLC states on its digital trading card website that it is an independent entity. “NFT INT LLC is not owned, managed, or controlled by the Trump Organization, Donald J. Trump. NFT INT LLC uses the name, likeness, and image of Donald J. Trump under a paid license from CIC Digital LLC.” Trump is listed as the manager, president, secretary, and treasurer of CIC Digital LLC, according to disclosures posted by CREW.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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