Trump's Ethereum Wallet Takes A Presidential Plunge From All-Time Highs Amid Crypto Weakness

Donald Trump, the former President of the United States and a Republican candidate for the upcoming Presidential election, has seen a decrease of over $20,000 in the value of his cryptocurrency holdings from their all-time high.

What Happened: Data from Arkham Intelligence reveals that Trump’s Ethereum (CRYPTO: ETH) wallet holds a total of 1,552 ETH. However, due to the downturn in the overall cryptocurrency market, Trump’s holdings have experienced a loss of $21,830.

New information obtained by governmental ethics watchdog, Citizens for Responsibility and Ethics in Washington, indicates that Trump possesses a cryptocurrency wallet containing approximately $2.8 million worth of Ethereum as of early August.

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Why It Matters: Interestingly, despite his skepticism towards cryptocurrencies during his presidential term, Trump has been actively involved in the space. Last year, he launched a non-fungible token (NFT) project called “Trump Digital Collectible Cards” featuring exclusive images of himself. 

The project gained significant popularity, prompting the release of a second series of collectibles in April, which also sold out. According to official documents, Trump earned an impressive $4.87 million in licensing fees from his NFT collection.

It is worth noting that the emergence of Trump’s substantial cryptocurrency investments coincides with a growing focus on cryptocurrencies within the political sphere leading up to the 2024 presidential election.

Robert F. Kennedy Jr., a Democratic hopeful, has publicly confirmed his ownership of Bitcoin (CRYPTO: BTC). In contrast, Republican candidate and Florida governor, Robert DeSantis, has pledged to ban central bank digital currencies (CBDCs) if he assumes the presidency.

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