The post Donald Trump Earns $1.2B From Crypto appeared first on Coinpedia Fintech News
Donald Trump, often called “The Crypto President,” has reportedly earned over $1 billion from crypto ventures in less than a year, significantly increasing his fortune. According to a Forbes report published on June 5, Trump’s net worth has now reached $5.6 billion, with nearly half of his liquid assets linked to cryptocurrencies.
With this open revelation, Trump and his family are once again on critics’ radar, who think that while Trump made millions, many crypto investors lost their money in his PUMP and DUMP schemes. It also raises questions about political holdings of crypto assets without crypto regulations in place.
Here’s a swift breakdown of his crypto earnings. It will be eye-opening for many!
Where the Money Came From
Trump’s earnings come from a mix of token sales and memecoin holdings. The report claims he made $390 million, before taxes, through the sale of tokens from World Liberty Financial, a crypto platform connected to his brand. He also earned $315 million from the TRUMP memecoin and an additional $427 million from other memecoin assets.
On top of that, Trump is believed to hold up to $60 million in World Liberty Financial’s new stablecoin, USD1. Altogether, his total crypto income is estimated at $1.2 billion, with post-tax profits around $935 million.
Private Dinner Raises Eyebrows
Trump’s growing involvement in crypto drew more attention following a private dinner at his golf club near Washington, D.C., on May 22. The event was attended by the top 220 holders of the TRUMP token. Among them was Tron founder Justin Sun, reportedly the largest holder, with $18 million worth of tokens at the time.
Sun has also invested $93 million into Trump-linked crypto projects, including $75 million into World Liberty Financial. His presence has sparked concerns about possible foreign influence, especially given Trump’s ongoing 2024 presidential campaign.
Critics Question Ethics, But Profits Speak Loudly
The scale of Trump’s crypto earnings has raised questions around transparency and ethics. Critics warn that large foreign investments in ventures tied to a presidential candidate could present serious risks.
Investor and former White House official Anthony Scaramucci highlighted the growing inequality within Trump’s crypto venture. Citing data from Chainalysis, he noted that 58 wallets have made over $10 million each from the TRUMP memecoin, totaling $1.1 billion in profits, while around 764,000 wallets, mostly held by small investors, are in the red.
Scaramucci also pointed to the exclusive nature of Trump’s May 22 event, which included a private reception and White House tour for the top 25 wallet holders, raising fresh concerns over insider access and favoritism.