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

It’s safe to assume that Donald Trump himself did not actually sign transactions on Polygon and Ethereum.

Still, those working on crypto projects associated with 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 NFT series (trading cards) and his upcoming DeFi platform World Liberty Financial.

This is a quick analysis, but the 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 comes from royalties from primary and secondary sales. The first set of Trump NFTs went on sale almost two years ago, in December 2022.

(Note: NFT collectibles also bring in 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 they are likely in the millions.)

NFT Income and Crypto Taxes at Current Prices

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

So far, about $240,500 worth of ultra-small tokens with names like "DT Inu" and "Take America Back" have been given to Trump .

Every time a transfer is made, including when trading on a DEX, the token’s token contract automatically forwards a small amount of USDC or ETH to Trump’s wallet.

This resulted in a sudden and brief burst of additional crypto income for Trump’s on-chain footprint.

As for how much has been cashed out — whoever is handling Trump’s crypto 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 it had been held until today.

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

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

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

All of this, combined with Trump’s enthusiasm for buying burgers with Bitcoin before the election, makes it clear that the President-elect really does understand cryptocurrencies better than any other commander-in-chief, or even any American politician.

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

Whatever the reason World Liberty Financial switched to wrapped Bitcoin, it will track. After all, what would the first on-chain president look like without the traditional crypto drama?