- Manhattan Grand Jury charges Trump with over 30 business fraud charges.
- Trump Cards NFT floor price soared by 22% to $1,070 following the news.
- This makes Trump Cards NFT worth ten times more than the initial $99.
Donald Trump, the multi-millionaire entrepreneur and ex-President of the United States, is facing huge legal trouble as the Manhattan Grand Jury officially indicted him on over 30 counts of business fraud, including the hush money payment to adult film star Stormy Daniels.
This unprecedented legal action is the first case in which an ex-US President has been indicted on criminal charges. While Trump denies all of the allegations, his legal trials and tribulations sparked activity in the NFT market.
The full details of the NY indictment have not been disclosed yet – the legal framework was done under seal.
But we do know that the hearing had a mysterious witness, whose 30-minute speech allegedly provided significant proof of Donald bribing the porn star to stay silent.
Trump Fans Push His NFTs to New Heights
On top of all this, Trump’s famed Trump Cards NFT collection tripled in trading volume in the last 24 hours. NFT enthusiasts traded 105.069 Ethereum (ETH) since the news, which equals $189,000.
The current NFT floor price of 0.595 Ethereum (ETH) represents a tenfold increase from the original price of these Trump Cards, which were originally released after Donald’s ‘Major Announcement’ in November 2022.
The Trump Cards NFT collection now has a market cap of $48 million by itself and is stored on Polygon (MATIC), which also hosts a remade version of the same NFT collection, including Trump-related sweepstakes.
While many NFT enthusiasts see it as a great trading opportunity, some Trump Card owners see them as relics that could become more valuable in the future.
On the Flipside
- According to Richard Hasen, a law professor at the University of California, Donald Trump can still run for re-election even if he’s convicted.
Why You Should Care
High-profile celebrities telling their life story through NFT collections might significantly increase crypto adoption.
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