Donald Trump Received $5 Million In Crypto Donations — But Not For His Election Campaign

Donald Trump has made headlines recently with his involvement with cryptocurrency. In early May, he hosted an NFT event where he had dinner with backers of one of his NFT projects. He voiced his support for cryptocurrency at the dinner and expressed his desire to create an environment where cryptocurrency companies can operate in the United States without fear of regulation. These comments come after Trump made millions in cryptocurrency from a handful of sources, all of which were free donations.

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Trump first started earning cryptocurrency in late 2022 following the launch of the Trump Digital Trading Cards NFT collection. The project used Trump’s name, image and likeness to issue 45,000 NFTs priced at $99 each. Trump received royalties for allowing his company, Collect Trump Cards, to publish the collection. In total, Trump received over 1,800 ETH from the project.

In late 2023, Trump sold 1,075 ETH to generate $2.4 million in revenue. Trump still has more than 800 ETH worth $2.4 million.

However, since Trump earned his royalties by allowing another company to market NFTs, ETH is not necessarily a donation. Trump has earned more than $5 million in donations from other cryptocurrency companies.

Trump received 580,000 Maga Coin (TRUMP) tokens when the project launched in August 2023. Memecoin focuses on providing Trump supporters with a token they can invest in, serving as “this kind of de facto betting market on elections for many investors.” “According to Steven Steele, the project’s marketing director. The project’s founders sent the tokens to Trump as a marketing tactic to show their support for the former president.

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When Trump first bought the tokens, they were trading for less than $0.01 each, and the total position was worth just a few thousand dollars. But as Trump continued to make headlines, the memecoin craze emerged and the price of the token increased as the presidential race heated up.

In March 2024, the token reached an all-time high of $11.56 (ATH), meaning that Trump’s 580,000 tokens were worth over $6.7 million.

While the token’s price has fallen since then, it remained well above the $5 level and performed well in May. The recent rise in price was likely due to comments Trump made at NFT’s dinner event; “If you love crypto in any form, and it comes in many different forms, you better vote for Trump,” he said here.

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Trump’s current holdings in MAGA Coin are worth over $5 million. While it’s unclear whether Trump would sell the position or even know about them, the amount is certainly notable considering Trump’s election bid raised over $200 million in total.

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