jakiro
Author: David Canellis, Blockworks; Compiled by: Tao Zhu, Bitchain Vision
It is safe to say that Donald Trump himself hasn’t actually signed a deal on Polygon and Ethereum.
Still, those who deal with crypto projects related to him are doing their bestMake Trump truly worthy of his name: the first on-chain president.
I spent the morning sorting out the on-chain data of Trump-related crypto projects—his NFT series (transaction cards) and the upcoming DeFi platform World Liberty Financial.
This is a quick analysis, but the data shows thatTrump has earned nearly $84 million in cryptocurrency revenue in two years.
Trump’s four NFT collections on Polygon have generated $7.7 million in cryptocurrencies (WETH and POL fka MATIC).
This revenue comes from royalties for primary sales and secondary sales.The first set of Trump NFTs will be available almost two years ago in December 2022.
(Note: NFT collectibles also bring additional off-chain revenue as the project accepts fiat currency through credit card payments. Credit card data has not been fully launched, so these sales have been excluded from the above total, although their scope may beIn millions.)
NFT income and cryptocurrency tax are calculated at current prices
There is also an unofficial set of Trump Meme coins that regularly pay transfer taxes to Trump’s wallet.
So far,Trump has been given a super-small token worth about $240,500, its names are “DT Inu” and “Take America Back”.
Each time a money transfer, including when trading on DEX, the token contract of the token automatically forwards a small amount of USDC or ETH to Trump’s wallet.
This led to a brief burst of additional crypto revenues in Trump’s on-chain footprint.
As for how much has been cashed out – so far, no matter who is dealing with Trump’s cryptocurrency, it seems that $3 million of ETH has been liquidated on Coinbase.
Trump’s address deposited 1,325.16 ETH to the exchange between November and December 2023, and if held until today, the amount would be worth $4.9 million.
Then there is the World Liberty token sale.As of this morning, the WLFI release has brought over $75 million in revenue to the platform, with 80% ($61 million) of which were earned after Trump’s November victory.
Over the past week or so, World Liberty’s wallet has also accumulated a large number of DeFi tokens AAVE, LINK, ENA and ONDO, which are worth $5.2 million at current prices.
The reason for this is that World Liberty Financial is holding them as it will integrate with these agreements, especially given the strategic partnership newly announced by Ethena Labs in October.
All of this, coupled with Trump’s enthusiasm for buying burgers with Bitcoin before the election, it’s clear that the president-elect does know more about cryptocurrencies than any other commander of the armed forces, or even any American politician.
Still, it’s not without conspiracy: World Liberty Financial just sold about $11 million worth of Coinbase encapsulated bitcoin cbBTC while buying an equal amount of wBTC as shown in the purple and red shaded areas above.
Whatever the reason why World Liberty Financial converts encapsulated bitcoin, it tracks it.After all, what would the first on-chain president look like without traditional crypto drama?
