The post Tracking Trump’s crypto footprint – Blockworks appeared on BitcoinEthereumNews.com.

This is a segment from the Empire newsletter. To read full editions, subscribe. It’s probably safe to say that Donald Trump isn’t really signing transactions on Polygon and Ethereum himself. Still, those handling the crypto projects he’s linked to are doing their best to have Trump live up to his moniker: The First Onchain President. I’ve spent the morning compiling onchain data for Trump-linked crypto projects — his NFT collections (trading cards) and upcoming DeFi platform World Liberty Financial. The goal: Calculate the cumulative value of Trump’s onchain footprint. It was a quick analysis, but the data shows that Trump has so far raked in almost $84 million in crypto revenue in two years. Trump’s four NFT collections on Polygon have generated $7.7 million in crypto (WETH and POL fka MATIC).  That revenue was derived from a mixture of primary sales and royalties on secondary sales. The first set of Trump NFTs went on sale two years ago almost to the day, in December 2022. (Note: The NFT collections have also brought in additional offchain revenue, as the project accepts fiat via credit card payments. Credit cards aren’t exactly onchain yet, so those sales have been left out of the totals above, although they could range in the millions.) NFT revenue and memecoin taxes are valued at current prices There’s also a suite of unofficial Trump memecoins that regularly pay a transfer tax to Trump wallets. Ultra small cap coins with names like “DT Inu” and “Take America Back” have gifted about $240,500 to Trump to date.  The coins’ token contracts automatically forward small sums of USDC or ETH to Trump’s wallets every time they’re transferred, including when they’re traded on DEXs.  This has resulted in sudden, short-lived bursts of additional crypto revenue for Trump’s onchain footprint.  As for how…

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Filed under: News - @ December 19, 2024 2:28 pm