Donald Trump reportedly made $1 million from his NFTs, despite rape and fraud lawsuits

Donald Trump reportedly made  million from his NFTs, despite rape and fraud lawsuits

According to filings with the US Office of Government Ethics, former President Donald Trump earned between $100,000 and $1 million from the sale of his NFTs. Citizens for Responsibility and Ethics in Washington (CREW), a code of conduct watchdog, released the material earlier.

In December 2022, Trump unveiled the President Trump NFT, a 45,000-piece digital art exhibit. The public’s interest was piqued by the line’s alleged connection to the ex-president, and it quickly sold out on the first day of release.

Showing Donald Trump some love

After hearing that the former US president had filed a lawsuit in New York, the price of the digital collectible skyrocketed, making this week very profitable for longtime token holders.

The number of wallets now holding Donald Trump NFTs has fallen by 14% to 207 in the past week, according to chain statistics compiled by NFT data aggregator CryptoSlam. In contrast, these investors’ trading profits increased by 651%, reaching $12,000.

Former US President Donald Trump. Image: AP

In addition, data from CryptoSlam shows that Trump’s NFT venture has produced nearly $20 million in sales since its release. However, the number of wallets now holding this NFT has dropped by 13% over the past week, to 208.

However, according to OpenSea’s NFT market statistics, only 23% of Trump NFT investors have two or more NFTs, while 65% have just one.

Controversy surrounds former president’s NFTs

The collection has been characterized by a number of editions since its debut. Allegations of stolen artwork join accusations of insider trading in the collection’s rarest NFTs.

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The NFTs have been linked by the New York Times to Trump associate and serial entrepreneur Bill Zanker. The article said a significant portion of the sale proceeds had been pledged to Trump.

Furthermore, the Wyoming location listed for NFT INT LLC has prior connections with offshore companies, reports said.

Donald Trump claims that he will use the money he made from NFTs for his own benefit, despite the fact that it was raised during a political campaign.

Trump’s card distributor, NFT INT LLC, paid CIC Digital LLC for the right to use Trump’s likeness in digital artwork for sale. According to his tax returns, Trump received between $500,000 and $1,000,000.

BTCUSD inching back to the $30K level at $29,732 on the daily chart at TradingView.com

Rape lawsuit against Donald Trump

Meanwhile, a federal court on Monday rejected Trump’s lawyer’s request to delay the start of his rape trial for a month, saying the former president cannot make public statements to increase pre-trial publicity and then claim it is prejudicial to him and vindication to postpone a test.

Longtime columnist E. Jean Carroll will go to trial on civil charges against the former president on April 25 in Manhattan, according to Judge Lewis A. Kaplan.

Donald Trump said he never met Carroll and that the rape never happened.

– Featured image from Mother Jones/Truth Social

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