thecryptobasic.com
In the lead-up to the November 2024 U.S. presidential election, Republican nominee Donald Trump’s crypto holdings have seen an impressive surge in worth.
According to Arkham, a crypto intelligence platform, Trump’s crypto assets have increased by $6.1 million since the beginning of the year.
Donald Trump is up $6.1M USD on his crypto holdings since the start of this year.
Over 65% of his current holdings are MEMECOINS. pic.twitter.com/ssJJqgY2sV
— Arkham (@ArkhamIntel) October 17, 2024
His portfolio, currently valued at $7.71 million, shows a shift in his financial interests at a time when he even launched his own project, especially considering his past skepticism towards crypto. Interestingly, over 65% of his current holdings consist of memecoins.
Trump’s Crypto Portfolio
Trump’s crypto portfolio includes a diverse range of assets, with memecoins making up the majority. His largest asset, MAGA (TRUMP), holds a value of $3.12 million, an increase of $191,170 in the last 24 hours.
Other major assets include Ethereum (ETH), valued at $1.29 million, and Wrapped ETH (WETH), worth $1.25 million. Both Ethereum-based tokens have seen minor losses, with ETH and WETH down by $9,280 and $9,860 over the past 24 hours.
Additionally, Trump’s portfolio features substantial holdings in memecoins such as TROG, valued at $959,170, and GUA, worth $433,650. Smaller assets include the FIGHT token, valued at $144,050, and USD Coin (USDC), a stablecoin with a balance of $137,808.
Trump’s Growing Engagement
Arkham’s data shows that Trump’s address has received $3.01 million, all through Coinbase, with deposit activity spiking after September 2023 and stabilizing in early 2024.
However, his withdrawal activity has been minimal, totaling just $160.08. These withdrawals were distributed across four exchanges, with MEXC handling 86% of the total. The disparity between Trump’s deposits and withdrawals indicates a strong inclination towards holding, rather than liquidation.
Crypto Leaders Donate Millions
Adding to the stir, the political action committee (PAC) supporting Donald Trump’s presidential campaign, Trump 47, has received $7.5 million worth of cryptocurrency donations.
A filing with the Federal Election Commission revealed that contributions for the third quarter of 2024 were made in various cryptocurrencies, including Bitcoin (BTC), XRP, and stablecoins like USDC and Tether (USDT). Notably, the largest donations came from Bitcoin, with crypto executives contributing around $5.5 million in total.
Several prominent figures in the crypto space were among the contributors, including David Bailey of BTC Inc., who donated $500,000. Gary Cardone contributed $840,000, while Mike Belshe, CEO of BitGo, and Bruce Fenton of Chainstone Labs, donated $100,000 and $60,000, respectively.