Former U.S. President Donald Trump Reportedly Holds Millions of Dollars in Ethereum (ETH) and Has Earned Income from Non-Fungible Tokens (NFTs)

In recent election disclosures, former U.S. President Donald Trump was revealed to hold between $1 million and $5 million in Ethereum (ETH), and he has reportedly

Former U.S. President Donald Trump's recent election disclosures have revealed his cryptocurrency holdings, including a substantial amount of ETH and income earned from NFTs.

According to an analysis of Trump's cryptocurrency wallet by Arkham Intelligence, the former president holds an estimated $3.6 million in ETH.

Furthermore, filings indicate that Trump secured $7.15 million from a licensing deal with a firm named NFT INT, while former First Lady Melania Trump reported $330,609 in income from NFT sales.

OpenSea data shows that the Trump Digital Trading Cards have generated over 15,008 ETH in trading volume since their launch. Trump has also announced plans to introduce another NFT collection.

Despite his previous endorsements of cryptocurrency, notably in a recent X space interview with Elon Musk, Trump made no direct mention of his crypto engagements during a press conference where he addressed various campaign-related topics.

The absence of any cryptocurrency discussion, despite Trump's recent involvement in the topic at the Bitcoin 2024 conference, drew attention and disappointment among crypto fans.

At the conference in July, Trump highlighted the potential threat to the cryptocurrency industry if Democrats were to win the upcoming election, accusing them of possible harmful regulatory actions.

In line with his campaign promises, Trump vowed to dismantle the current regulatory framework overseen by SEC Chair Gary Gensler, who he plans to dismiss immediately upon reelection, a statement that elicited strong applause from the crowd. Trump appeared surprised by the crowd's enthusiastic reaction to the announcement.

"On day one, I will fire Gary Gensler and appoint a new SEC chairman," Trump said as the crowd erupted. "I didn't know he was that unpopular. Let me say it again. On day one, I will fire Gary Gensler."

In other news, the Trump Organization is reportedly preparing to launch a new cryptocurrency initiative, signaling a continuing interest in blockchain technology within Trump's business ventures.

Anticipation started rising early in August, when Trump's younger son Eric Trump posted on X that he had "fallen in love" with the new tech and that his followers should "stay tuned" for a special announcement.

Eth Fees Drop to Five-Year Low

The Ethereum network has experienced a significant drop in transaction fees, reaching a five-year low, according to chief analyst Ryan Lee from Bitget Research.

This decline in gas fees—now as low as 0.6 gwei for low-priority transactions—coincides with a decreased demand for Ethereum block space and a migration to faster, cheaper blockchains like Solana and Layer 2 solutions. This shift, combined with the Dencun upgrade improving network efficiency, contributed to the reduced fees.

Interestingly, this reduction in fees has led to an increase in ETH's supply, with nearly 16,000 ETH added over the past week, which could impact ETH's price dynamics moving forward.

According to Lee, when ETH's gas fees hit rock bottom, it often signals a mid-term price floor, and the price of ETH tends to rebound strongly after this cycle.

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