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Former US President Donald Trump Selling ETH Worth Millions of Dollars, Analysis Indicates

Former US President Donald Trump Is Selling ETH Worth Millions of Dollars, Analysis Indicates

An analysis by crypto intelligence firm Arkham indicates that Donald Trump, the 45th President of the United States, is selling millions of dollars in ether acquired from selling his non-fungible token (NFT) collections. The analytics firm also revealed that Trump’s highest crypto balance reached $4 million. Based on deposit analysis to date, the former U.S. president has sold 1,325 ETH, totaling over $3 million.

Donald Trump Selling Ether, Analysis Suggests

Crypto intelligence firm Arkham shared an analysis on social media platform X on Thursday, revealing the amount of ether former U.S. President Donald Trump appears to have sold.

“Looks like Donald Trump is selling his ETH,” the firm wrote, adding that three weeks ago, the former U.S. president started sending his cryptocurrencies to Coinbase after months of accumulating from the sale of non-fungible tokens (NFTs). “His peak balance was $4 million,” the firm added, noting that based on the deposits, Trump has sold 1,075 ETH for $2.4 million so far. However, 250 more ETH have been transferred to Coinbase since Arkham’s post. At the time of writing, the total transferred amounted to more than $3 million.

Arkham previously identified a crypto wallet linked to Trump based on public disclosures.

Trump has launched three NFT collections to date, with the most recent being the Mugshot Edition unveiled earlier this month. Notably, the latest release marks his first inclusion of physical cards. Customers acquiring 47 cards from the Mugshot Edition will receive a fragment of the suit worn by Trump in his mugshot, along with an invitation to a gala dinner at his Mar-a-Lago home.

The former U.S. president’s first NFT collection was launched in December last year. It was a digital card collection featuring art of his life and career. His second NFT digital card collection was launched in April, which was 19 days after he was indicted with 34 felony counts of allegedly falsifying business records.

In August, Trump disclosed in a filing with the Federal Election Commission (FEC) that a company that made $9.7 million by licensing his image on NFTs, CIC Digital LLC, maintained a cryptocurrency wallet with at least $1 million in ethereum, which produced income of $2.8 million.

What do you think about former U.S. President Donald Trump selling his ETH proceeds from NFT collections? Let us know in the comments section below.



from Bitcoin News https://ift.tt/Z0ODYXc
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