Former President Donald Trump’s cryptocurrency business has hit a roadblock. At first, his involvement in crypto transactions brought profits, but later market instability caused a significant loss in his investments.
In his first year of involvement with cryptocurrencies, the business magnate derived most of his income from the royalties of his own NFT collection, named Trump Digital Trading, which earned him approximately 1,800 Ether.
In addition, he significantly gained from MAGA Coin’s fortune, a humorous digital currency introduced in 2023 during his triumphant period, leading to an enormous price increase for the coin.
Before the election, the developers contributed around 579,289 MAGA Coins valued at roughly $2,500 in total to their portfolio. These coins represented a small portion of their holdings, which were worth approximately $5.3 million in total. Now, after the election, the value of these MAGA Coins has surged, making their worth more than $2.5 million and accounting for nearly the entirety ($5.3 million) of their investment portfolio.
During the election campaign, the value of his MAGA Coin investment hit a high of $8.5 million, making it his most substantial asset at that time. However, unfortunately, the price of the MAGA Token has plummeted by 61% over the past month.
Despite the price swings causing Trump’s cryptocurrency holdings to amount to just $3 million, most of these investments weren’t funded with his personal funds.
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2024-04-09 00:36