Editor's PiCK

Forbes: "Trump earns $1 billion through virtual assets"

Source
Doohyun Hwang

Summary

  • Forbes reported that former President Donald Trump has raised his net worth to $5.6 billion by generating about $1 billion in profits through virtual assets.
  • Forbes stated that Trump's liquid assets amount to approximately $900 million, with half coming from the virtual asset business.
  • There is a possibility for additional profits as the lock-up for meme coins in which Trump participates is lifted, and analysts commented on various rights that can be granted through the utilization of meme coins.
Photo=cristiano barni / Shutterstock.com
Photo=cristiano barni / Shutterstock.com

It has been revealed that former U.S. President Donald Trump raised his net worth to $5.6 billion by generating about $1 billion in profits through virtual assets (cryptocurrencies).

On the 5th (local time), Forbes stated, "Trump’s virtual asset business, which began over the past 9 months, has expanded rapidly just before the presidential election. The president has been realizing earnings through virtual asset projects directly connected to him."

In particular, virtual assets have become a means for Trump to secure cash liquidity. Just a year ago, Trump held cash-equivalent assets worth about $400 million and faced serious liquidity issues due to more than $500 million in legal liabilities. Currently, however, his liquid assets amount to approximately $900 million, with half of that attributed to businesses related to virtual assets.

Forbes said, "World Liberty Financial (WLFI), founded by the Trump family, has not yet fully entered an expansion phase, and the meme coins in which Trump directly participated are structured so that tokens are gradually distributed as the lock-up is lifted. Trump and his partners have currently received only about 8% of the total. There is a possibility that additional profits on the scale of several billions of dollars could occur in the future."

The recent controversy over Trump’s exclusive meme coin investor dinner is also interpreted as a strategic use of assets. Jeff Dorman, Chief Investment Officer (CIO) at Arca digital asset management, stated, "The team assisting Trump is extremely skilled," and added, "They know well the necessity of continuously adding functions that give value to virtual assets."

Speculation continues regarding Trump’s next steps. Dylan Bain, an analyst at Messari, commented, "Recently, Trump opened a new membership club in Washington, D.C. Access rights may be granted to holders of his meme coin, 'Official Trump (TRUMP)'," and analyzed, "Various types of rights could be given, such as access to Mar-a-Lago resort, Trump-owned hotels, golf courses, and participation in other Trump business investments."

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Doohyun Hwang

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