US presidential candidate Donald Trump’s crypto assets are now worth over $33 million following the airdrop of his latest Meme coin, TROG.
A recent airdrop has resulted in a substantial increase in the crypto portfolio of former United States President Donald Trump. The crypto portfolio of the current Republican Presidential candidate is now valued at over $33 million, as indicated by an X post from the crypto intelligence platform Arkham.
Following the TROG airdrop, the Trump Crypto Portfolio experienced a surge
Arkham recently disclosed that Trump’s portfolio had multiplied due to receiving half of the supply of a new meme coin, TROG, from the project’s developers a few days ago. A novel token with a frog motif, the meme coin is a hybrid of financial strategy and meme culture, as its creators have described it. The asset’s developers aspire to offer holders investment potential while simultaneously providing a sense of amusement.
As of the time of writing, Trump’s portfolio page, which Arkham monitors, indicates that he possesses 210.345 billion TROG, with $19.9 million in the bank. Trump’s most significant holding is TROG, with 579.29K Maga (TRUMP) tokens valued at $7.75 million following. In the third and fourth positions, Wrapped ETH (WETH) is valued at $1.42 million, while Ether (ETH) is worth $1.79 million. The portfolio also includes a variety of other tokens, such as USD Coin (USDC), MAGA Hat (MAGA), Conan (CONAN), and MAGA VP (MVP).
Airdropped meme coins comprise the two most significant assets in Trump’s portfolio. Nevertheless, his ETH and WETH holdings are derived from the former President’s NFT collection, acquired through transactions.
On June 2, TROG was introduced as a new token. The origins can be traced back to May 2017, when artist Mike Mitchell tweeted altered images of Trump. In a week, the post garnered nearly 32,000 likes and more than 14,000 retweets, inspiring the circulation of numerous other altered photos online.
Trump is the largest TROG holder, according to reports. The second-largest holder presently holds 7.23 billion TROG, controls 1.62% of the total supply, and is valued at $450,000 per tokenomics. Ten holders purportedly possess 66.72% of the token’s total supply, which has prompted concerns regarding concentration.
The MAGA (TRUMP) token was the most significant holding in Trump’s portfolio as of May 27. The wallet received numerous donations within 24 hours of the former president’s conviction for a few offenses. The donations were perceived by many as a form of protest against the sentence or support for Trump. This is particularly significant in light of Trump’s endorsement of cryptocurrency.
Trump endorses cryptocurrency
In an official press release, the Trump campaign said it accepts donations in various cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH), through Coinbase Commerce. The release indicated that it is part of a pledge to assist the crypto sector if Trump is elected in the forthcoming election. Trump hosted a Trump Cards NFT Gala event at his Florida Mar-a-Lago resort weeks before the event, during which he pledged to guarantee that his campaign could receive cryptocurrency donations. In response to a query regarding receiving digital asset donations, Trump stated the following.
In March, Trump acknowledged the significant utility of cryptocurrency during an interview with CNBC’s Squawk Box. He stated:
“I’m not sure that I’d want to take [crypto] away at this point.”
Trump was recently critical of the Biden Administration’s stance on cryptocurrency while addressing a group of his NFT holders. He further stated, “If you favor crypto, you should vote for Trump.”