Good day everyone,
I hope you are all having a good day, welcome to CryptoGod-1's blog on all things crypto. In this post I will be looking at a report which notes how Donald Trump has cashed in from his support of crypto.
Trump Makes $1 Billion From Crypto in 9 Months
Crypto corruption? Never. A new report from Forbes has indicated that United States President Donald Trump has managed to amass $1 billion from his crypto ventures over the past nine months. During this period Trump managed to ignite his personal wealth and net worth to higher levels but it has stirred plenty of controversy as critics have warned of the conflicts between his political position and personal ventures.
The Forbes’ calculations published in the report from last Thursday noted how Trump has made $1 billion since just before the election, lifting his net worth to $5.6 billion. It noted that Trump has $900 million worth of liquid assets and almost half of that comes from his cryptocurrency ventures. The article goes on to note how Trump made more than $390 million pre-tax from the sale of his affiliated crypto platform World Liberty Financial’s native tokens.
It was also reported that the president has made around $315 million from his $TRUMP memecoin and $427 million from his memecoin stash. There has also been an estimated $60 million made from World Liberty Financial’s new stablecoin, USD1. It is therefore alleged by Forbes that Trump has brought in $1.2 billion from his foray into the world of digital assets, with a post-tax estimate of $935 million.
It marks a massive turn around for Trump, as around 12 months ago he had around $400 million on his balance sheet and more than $500 million in legal judgments against him. The majority of those were from a fraud case he lost and is currently in the process of appealing. With now almost $900 million of liquid assets to his name, Trump is certainly cashing in from crypto.
With World Liberty Financial ramping up and his memecoin continuing to draw attention, exemplified by his private dinner for people willing to purchase the cryptocurrency, Trump is far from finished yet. The chief investment officer at digital asset firm Arca, Jeff Dorman, noted:
“The team that’s helping him is actually pretty savvy. They know that you have to continue to add features to give it value.”
The gala dinner, which featured the list of Tron founder Justin Sun, is likely just the beginning of the lucrative offers for Trump's supports. Crypto insiders are speculating about what Trump might offer his investors next, with Dylan Bane, an analyst with the crypto firm Messari, suggesting:
“The Trumps opened up a new club in D.C.—maybe you get exclusive access there. Maybe you get some kind of access to Mar-a-Lago. You know, any of the Trumps’ hotels or resorts or golf courses—maybe you get access there. Maybe you get special rights to invest in other Trump ventures. … The possibilities are endless.”
Critics have argued that Trump mixing politics with personal ventures may lead to unethical foreign influence and bribery concerns, Given that Justin Sun held a wallet worth $18 million of $TRUMP coins ahead of the dinner, and Sun had also previously invested $75 million in the Trump-affiliated crypto platform World Liberty Financial, then it seems likely these concerns may be legitimate. However, the only thing we know for certain is that Trump is making bank off his crypto ventures.
https://x.com/Forbes/status/1931020785138737459
Have a great day.
Peace. CryptoGod-1.
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