WatcherGuru, a platform known for providing information about cryptocurrencies and finance in general, has revealed that former US President Donald Trump owns Ethereum worth $250,000. This information has come to light amidst an ongoing investigation into the financial records of the former President.
Donald Trump and his close associates have shown an interest in cryptocurrencies. The investigation aims to determine the extent of the former US President’s involvement with cryptocurrency assets and whether he has violated any laws through cryptocurrency-related interactions.
In December 2022, Trump confirmed that he owns his own NFT collection called “Trump Digital Trading Cards.” The value of these NFTs quickly soared to an all-time high of 0.84 ETH, just a day after their launch. However, the value later plummeted along with the rest of the cryptocurrency market due to decreased trading volume, resulting in an 85% loss as the value of the Trump Digital Trading Cards dropped to 0.12 ETH.
Trump’s wife, Melania Trump, has also entered the NFT market. She converted some famous images from the Apollo moon landing missions of the 1960s and 1970s into NFTs and sold each piece for $75. However, officials at NASA did not approve of this, stating that it violated rules regarding the use of their images for digital assets like NFTs. NASA’s regulations on commercial products state:
“As it does not fit within the portfolio of products the agency has approved to sell, NASA prohibits all commercial applications related to NFTs. Furthermore, as stated in NASA’s Principles of Using NASA’s Assets, NASA does not want its imagery to be used in connection with NFTs.”
The fact that Trump owns Ethereum may not necessarily indicate any wrongdoing, as cryptocurrency tokens are not among the securities approved by regulatory agencies in the US. Ethereum is not listed as a security, and it is not linked to any recent lawsuits that the SEC has filed against some domestic cryptocurrency exchanges.
Therefore, while the ongoing investigation may not lead to any charges against former US President Trump, the depreciation of NFT collections and Melania Trump’s sale of NASA images as NFTs could potentially lead to new investigations.