In addition to this case, President Trump is waging additional legal battles ahead of the presidential election in November.
Donald Trump’s cryptocurrency wallet has amassed a hefty $14 million, according to blockchain analytics platform Arkham Intelligence. In the last 24 hours alone, over $1 million has been deposited into wallets across a variety of cryptocurrencies, including Ethereum (ETH), Polygon (MATIC), and the USDC stablecoin.
Arkham Intelligence linked Trump’s wallet address to Trump using financial statement information submitted in August of last year.
Donald Trump Receives Cryptocurrency Donations
As of May 27, the wallet holds approximately $10 million in cryptocurrency. The largest holding at the time was a meme coin called the MAGA token, represented by the ticker TRUMP.
But wallet deposits soared following his conviction in a historic hush trial on May 30.
Within 24 hours of him becoming the first former US president to be convicted of a felony, the wallet received additional donations, with TRUMP tokens still leading the way.
The total amount of memes currently deposited into wallets has reached $9.48 million. TRUMP tokens are followed by Ethereum with approximately $1.77 million worth.
The wallet also contains wrapped Ethereum (wETH) with an estimated value of $1.43 million.
These donations from the cryptocurrency community could be interpreted as a form of support for the court’s ruling Thursday, in which a New York jury found Trump guilty on all 34 felony charges brought against him.
Prosecutors accused him of participating in an illegal conspiracy to influence the 2016 presidential election and suppress negative information. Authorities allege that the former US president concealed a hush money payment to a porn star who claimed he had an affair.
The trial was presided over by Judge Juan Merchan, and a sentencing hearing is scheduled for July 11. The court said President Trump could be jailed or placed on probation depending on the judge’s decision.
Trump supports cryptocurrency for political gain
In addition to this case, President Trump is waging additional legal battles ahead of the presidential election in November. The former US president wants to make a political comeback and return to the White House.
Trump has been preparing hard for the upcoming presidential election. His campaign strategy included embracing the cryptocurrency economy to win the votes of America’s digital asset enthusiasts.
Earlier this month, his campaign announced that it would accept cryptocurrencies such as Bitcoin (BTC) for donations through Coinbase Commerce. The campaign says you can donate any digital asset available on Coinbase Commerce.
In addition to accepting cryptocurrency donations, Trump is also involved in non-fungible tokens (NFTs). The former US president introduced a series of NFT collections that always sell out within hours of launch.
His wife, Melania Trump, has also shown interest in the world of digital art and has participated in various NFT projects, reflecting the family’s growing involvement in the cryptocurrency space.
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