Recently, the renowned platform WatcherGuru, which specialized in the world of cryptocurrencies and finance, has revealed that the former president of the United States, Donald Trump, has an investment in Ethereum whose value amounts to $250,000. These data emerge at a key moment, while a thorough review of the former leader’s financial records is carried out by the judicial authorities.
Trump’s entourage has traditionally shown a special interest in cryptocurrencies. The ongoing investigation is focused on discovering the extent of the former president’s relationship with these digital assets and determining if there was any type of irregularity or legal violation in his movements with cryptocurrencies.
NFT and the Trump Effect
At the end of 2022, Donald Trump showed his support for a series of NFTs dubbed “Trump Digital Trading Cards“. Following his endorsement, the price of these digital assets boomed, reaching a peak of 0.84 ETH. However, in tune with the volatility of the cryptocurrency market, its value fell sharply to 0.12 ETH, which translates into a depreciation of 85%.
Controversy in space
Not only Trump has flirted with the world of NFTs. His wife, Melania Trump, turned iconic images of the Apollo moon missions of the 1960s and ’70s into NFTs, selling them for $75 each. This action was not well received by NASA, which claimed that Melania violated her guidelines by using her images for commercial purposes, as is the case with NFTs.
In concrete terms, NASA’s marketing policy restricts the use of Non-Fungible Tokens (NFTs) as they are not consistent with the products that the agency is allowed to market. Furthermore, they do not want their images to be associated with this class of digital assets.
Investment legitimacy
Donald Trump’s possession of Ethereum does not necessarily suggest a violation of the law. It is relevant to remember that Ethereum is one of the cryptocurrencies approved by regulatory bodies in the United States. It is not considered a security and, to date, has not been the subject of recent SEC lawsuits against exchange houses in the country.
