By
Godfrey Benjamin
July 1st, 2024
Donald Trump has at least $33 million in crypto, mostly from the TROG meme coin airdropped to the former president.
Former United States President Donald Trump’s crypto portfolio has significantly increased following a recent airdrop. According to an X post from the crypto intelligence platform Arkham, the current Republican Presidential candidate’s crypto portfolio is now worth more than $33 million.
Trump Crypto Portfolio Pumps after TROG Airdrop
Hours ago, Arkham announced that Trump’s portfolio doubled after he received half of the supply of a new meme coin, TROG, sent by the project’s developers a few days ago. The meme coin is a new frog-themed token, described by its creators as a combination of financial strategy and meme culture. The asset’s developers hope that it can provide some humor while offering holders investment potential.
According to Trump’s portfolio page tracked by Arkham, the former president has 210.345 billion TROG, with $19.9 million as of writing time. TROG is Trump’s largest holding, followed by 579.29K Maga (TRUMP) tokens worth $7.75 million. In the third and fourth positions are Ether (ETH) worth $1.79 million and Wrapped ETH (WETH) at $1.42 million. The portfolio also contains several other tokens, including USD Coin (USDC), MAGA Hat (MAGA), Conan (CONAN), and MAGA VP (MVP).
The two largest assets in Trump’s portfolio are airdropped meme coins. However, his ETH and WETH holdings are from the former President’s NFT collection, proceeds from sales.
TROG is a new token that launched on June 2. The origins date back to artist Mike Mitchell tweeting altered photos of Trump in May 2017. The post gained nearly 32,000 likes and over 14,000 retweets in a week, and led to several other altered images floating around on the internet.
According to reports, the tokenomics reveal that while Trump is the largest TROG holder, the second-largest holder controls 7.23 billion TROG, 1.62% of the total supply, currently worth $450,000. The token has raised concentration concerns because 10 holders reportedly control 66.72% of the coin’s total supply.
As of May 27, the largest holding in Trump’s portfolio was the MAGA (TRUMP) token. Within 24 hours of the former president’s conviction of a few felonies, the wallet began receiving several donations. Many interpreted the donations as a form of protest against the conviction or support for Trump. This is especially noteworthy since Trump has made comments in support of crypto.
Trump Supports Cryptocurrencies
In an official press release, the Trump campaign revealed that it is accepting donations in several cryptocurrencies including Bitcoin (BTC) and ETH, via Coinbase Commerce. The release specified that it is part of a commitment to support the crypto sector if Trump is elected in the upcoming election. Weeks before, Trump held a Trump Cards NFT Gala event at his Florida Mar-a-Lago resort where he said he will ensure his campaign can receive cryptocurrency donations. Trump said this in response to a question about receiving digital asset donations.
Speaking to CNBC’s Squawk Box back in March, Trump acknowledged that there is a lot of use for crypto. He said:
“I’m not sure that I’d want to take [crypto] away at this point.”
Recently, when addressing a crowd of his NFT holders, Trump criticized the Biden Administration’s position toward crypto. “If you’re in favor of crypto, you better vote for Trump”, he added.