How much money has Trump made from cryptocurrency in two years?

Author: David Canellis, Blockworks; Compiler: Tao Zhu, Golden Finance

It’s safe to say that Donald Trump himself didn’t actually sign transactions on Polygon and Ethereum.

Still, those working on crypto projects related to him are doing their best to make Trump live up to his title: the first on-chain president.

I spent the morning sorting through on-chain data for Trump-related crypto projects — his collection of NFTs (trading cards) and upcoming DeFi platform World Liberty Financial.

This is a quick analysis, but data shows that Trump has earned nearly $84 million in cryptocurrency income in two years.

Trump’s four NFT collections on Polygon have generated $7.7 million in cryptocurrency (WETH and POL fka MATIC).

The revenue is generated from royalties on primary and secondary sales. The first set of Trump NFTs went on sale almost two years ago, in December 2022.

(Note: NFT collectibles also generate additional off-chain revenue, as the project accepts fiat currency via credit card payments. Credit card data is not yet fully on-chain, so these sales have been excluded from the above totals, although their scope may in millions).

NFT income and cryptocurrency taxes calculated at current prices

There is also an unofficial set of Trump Meme coins that regularly pay transfer taxes to Trump Wallet.

To date, approximately $240,500 worth of ultra-small tokens have been given to Trump under the names "DT Inu" and "Take America Back."

The token's token contract automatically forwards small amounts of USDC or ETH to Trump's wallet with every transfer, including when trading on a DEX.

This resulted in a sudden, brief burst of additional crypto revenue across Trump’s on-chain footprint.

As for how much has been cashed out – whoever is handling Trump’s cryptocurrency appears to have liquidated $3 million in ETH on Coinbase so far.

Trump 's address deposited 1,325.16 ETH to the exchange between November and December 2023, an amount that would be worth $4.9 million if held to this day.

Then came the World Liberty token sale. As of this morning, WLFI 's launch has brought the platform more than $75 million in revenue, 80% ($61 million) of which came after Trump's victory in November.

Over the past week or so, World Liberty 's wallet has also accumulated a large amount of DeFi tokens AAVE, LINK, ENA, and ONDO, worth a total of $5.2 million at current prices.

The reason is that World Liberty Financial is holding them as it will integrate with these protocols, especially in light of Ethena Labs' newly announced strategic partnership in October.

All of this, coupled with Trump’s enthusiasm for using Bitcoin to buy burgers before the election, it’s clear that the president-elect does indeed know more about cryptocurrencies than any other commander-in-chief, or even any American politician.

Still, it's not without intrigue: World Liberty Financial just sold about $11 million worth of Coinbase-wrapped Bitcoin cbBTC, while simultaneously buying an equal amount of wBTC, as shown in the purple and red shaded area in the chart above.

Whatever the reason for World Liberty Financial to convert encapsulated Bitcoin, it tracks it. After all, what would the first on-chain president be like without traditional crypto drama?