Former President Donald Trump, known for his pro-crypto stance, has recently experienced a significant downturn in his cryptocurrency investments.
His portfolio has dwindled to $5.3 million, marking a loss of over $3 million, primarily due to the decline in ETH and TRUMP tokens during the previous month.
Donald Trump's foray into the world of cryptocurrency has captured widespread attention, adding an intriguing dimension to his post-presidential activities.
While he initially saw substantial gains in his crypto holdings over the past year, heightened market volatility has led to fluctuations in his portfolio.
At its peak, Donald Trump's cryptocurrency assets surpassed $8.5 million, largely driven by investments in MAGA Coin.
However, his holdings have since decreased to $5.3 million.
Trump and Crypto
His venture into crypto began with the introduction of Trump Digital Trading Cards, a concept based on non-fungible tokens (NFTs).
Following the successful sale of 45,000 NFTs in December 2022, generating $99 each, Donald Trump started receiving royalties from trading volumes.
These NFT sales garnered significant attention, featuring cartoon-like trading cards portraying him in various roles, such as a superhero, welder, or hunter.
Subsequent releases of limited edition collections saw overwhelming demand, with all $99 cards being sold out within a day.
In April of the same year, Donald Trump and his business partner, NFT INC LLC, launched another batch of NFTs, achieving similar success.
These sales raised over $8.9 million, with him earning $298,000 in licensing fees.
Currently, his cryptocurrency holdings are managed by his organisation, CIC Digital, which also oversees the collection of licensing fees from his NFT ventures.