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HomeNFTsTrump’s Ethereum wallet moves $2.4M in crypto to Coinbase

Trump’s Ethereum wallet moves $2.4M in crypto to Coinbase

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The wallet, which Arkham Intelligence linked to Trump in August, has moved millions thought to be earned through sales of his NFT series to Coinbase.
Gage Skidmore / CC BY-SA 2.0 / Wikimedia. Remixed by CryptoSlate
An Ethereum wallet thought to belong to former U.S. President Donald Trump recently moved millions in crypto earned from sales of non-fungible tokens, according to reports from Arkham Intelligence on Dec. 27.
Arkham noted that Trump’s wallet began to send his ETH holdings to Coinbase three weeks ago and has moved 1,075 ETH, worth $2.4 million, to the exchange. Arkham added that Trump’s wallet previously held $4 million at its peak.
Live Arkham data shows that Trump currently holds $1.39 million of ETH. He additionally holds $644,000 in MATIC and small amounts of other cryptocurrency tokens for a total of $2.22 million. Arkham’s data additionally indicates that the wallet did not initiate any transfers to exchanges before December.
Though Arkham suggested that Trump is selling the recently transferred holdings, the attached transaction log only shows deposits to Coinbase. The log does not explicitly show that he has sold or converted the funds to another asset.
The crypto wallet in question is believed to belong to Trump based on Arkham Intelligence’s findings. Arkham asserted in August that the wallet belonged to Trump based on information in a financial statement released that month.
Forbes India separately reported on Trump’s financial disclosure at the time. The wallet’s balance appears to originate at least in part from Trump’s NFT sales.
Sales of the Trump-themed NFTs are conducted through a firm called NFT International LLC. The company claims it does not operate under Trump. However, Trump has been highly involved in promoting the NFTs and has hosted various events for those who purchase the collectibles. He has seemingly collected royalties and revenue from the sales, as explained above.
The company has so far released three series of NFTs. The latest batch of NFTs attempted to capitalize on Trump’s recent arrest by featuring his mugshot photo. High-quantity purchases included a physical card with pieces of Trump’s suit.
Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada’s West Coast.
Jacob Oliver is a recovering academic and English teacher turned crypto journalist and web3 writer. He holds a Ph.D. from the University of Washington.
Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
Bitget’s rise as a leading crypto exchange with cutting-edge features and strong dedication to transparency and security.
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
A businessman, politician, and media personality, Donald John Trump served as the 45th president of the United States from 2017 to 2021.
NFT International LLC is the company that licensed the rights to use Donald Trump’s image for the Trump Digital Trading Cards (NFTs).
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
Arkham Intelligence is a platform that provides information on the real-world entities behind addresses on the blockchain.
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