Former US President earned up to $ 1 million on his own cryptocurrency tokens

A document released by the U.S. Government Ethics Office showed that former President Donald Trump earned from $ 100 thousand to $ 1 million by selling non-fungible tokens (NFTs) under his own brand. This was reported by the Citizens for Responsibility and Ethics organization in Washington.

According to the information, 45 thousand digital collectibles with the image of the 45th president were released in December 2022. All of them were instantly sold out within a day. Digital collectibles have risen sharply in value over the past few weeks. This happened after the news of the former president’s indictment in New York.

According to a statement filed on Friday, Trump served as «manager, president, secretary, and treasurer» of CIC Digital LLC and CIC Ventures LLC. The official Trump Trading Cards website stated that CIC Digital LLC had authorized NFT INT LLC to use «Trump's image, name and likeness under a paid license agreement.»

OpenSea data showed that 65% of collectors owned only 1 NFT. Another 23% held 2 to 3 tokens on their wallets. Nevertheless, several collectors purchased more than 100 NFTs at once. Analysts noted that another 1000 NFTs were not available to the public and were stored in the Gnosis secure wallet.