Recent blockchain data reveals that a digital wallet, believed to be connected to former U.S. President Donald Trump, has transferred Ethereum (ETH) worth over $2.4 million to the cryptocurrency exchange Coinbase. This revelation comes from Arkham Intelligence, a renowned on-chain analysis company. The firm initially identified these assets as potentially belonging to Trump in August, based on financial disclosures the former President had filed earlier.
Trump’s Ethereum Wallet and the Sale of NFT Royalties
Approximately three weeks ago, this Ethereum wallet linked to Trump started transferring ETH to Coinbase. This move followed a period of accumulating Donald Trump NFT royalties. The wallet’s balance at its peak was an impressive $4 million. Arkham Intelligence suggests that, based on these deposits, Trump has sold 1,075 ETH, equating to $2.4 million.
Last December, Trump launched a collection of 45,000 NFTs, each priced at $99. This collection generated a total trading volume of 15,013 ETH ($35.4 million) on the NFT marketplace OpenSea. In April, a second NFT collection was released, also priced at $99 each. The Trump Digital Trading Cards generated $119,100 in trading volume between December 17 and 24. Recently, another set of digital trading cards was unveiled, offering fans the chance to win unique experiences, such as dining with Trump or owning a piece of the suit he wore during his indictment in Georgia.
The Recent Surge in Ethereum
The recent sales observed by Arkham coincide with a 17% surge in Ethereum over the past month. Ethereum, currently the world’s second-largest cryptocurrency by market capitalization, was trading at $2,376 at the time of reporting, up 6.7% over the past 24 hours.
Trump’s Association with NFT INT LLC
The NFT drops and promotions linked to Trump were managed by NFT INT LLC, operating under a paid license from CIC Digital LLC. However, it’s important to note that NFT INT LLC is not owned, managed, or controlled by Donald J. Trump, The Trump Organization, CIC Digital LLC, or any of their respective principals or affiliates. Trump has previously been listed as the manager, president, secretary, and treasurer of CIC Digital LLC, according to disclosures posted by Citizens for Responsibility and Ethics in Washington. These documents revealed that the former president owned up to $5 million worth of ether and had earned at least $4.9 million from NFT licensing fees.
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