Author
Julia Smith
Author
Julia Smith
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U.S. President Donald Trump has amassed an estimated $1 billion from his ventures in cryptocurrency in just nine months, a June 5 report from Forbes reveals.
Trump Brings In A Digital Fortune
According to Forbes’ calculations published in the report on Thursday, Trump has made $1 billion since just before the election, lifting his net worth to $5.6 billion.
The media outlet alleges Trump holds $900 million worth of liquid assets, with nearly half of that amount stemming from his crypto pursuits.
The article claims Trump profited over $390 million pre-tax from the sale of his affiliated crypto platform World Liberty Financial’s native tokens.
The current sitting president is also reported to have brought in $315 million from his $TRUMP memecoin and $427 million from his memecoin stash.
Lastly, Trump is estimated to have up to $60 million worth of World Liberty Financial’s new stablecoin, USD1.
In total, Forbes alleges 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.
Controversy Swirls Around Donald Trump-Linked Crypto Ventures
News of Trump’s reported crypto earnings come just weeks after hosted the top 220 investors of his $TRUMP memecoin at his namesake golf club just outside of Washington D.C. on May 22.
Tron founder Justin Sun was also in attendance as the top holder of $TRUMP, with a wallet listed as Sun having held $18 million worth of $TRUMP coins ahead of the dinner.
Sun, who previously invested $75 million in the Trump-affiliated crypto platform World Liberty Financial, has now given $93 million to Trump-oriented crypto ventures.
Critics argue that the gala dinner and Trump’s crypto ventures at large may prove unethical due to foreign influence and bribery concerns.
Ethical or not, one thing remains clear: Trump’s ties to the blockchain sector are extremely profitable.
