In recent weeks, a wallet associated with former U.S. President Donald Trump has made headlines by transferring over $2.4 million worth of ether (ETH) to the popular cryptocurrency exchange Coinbase. This significant movement of funds has caught the attention of on-chain firm Arkham Intelligence, which previously identified digital assets linked to Trump based on financial disclosures filed by the former President. By delving into these transactions, we can gain insights into Trump’s involvement in the crypto space and his financial activities.
The wallet in question began sending Ethereum (ETH) to Coinbase approximately three weeks ago. This followed months of accumulating Trump NFT royalties, with the peak balance in the wallet reaching an impressive $4 million. According to Arkham Intelligence, Trump has sold 1,075 ETH, resulting in a sum of $2.4 million. These sales coincide with a 17% surge in ether over the past month, highlighting the profit Trump has garnered from his crypto ventures.
To understand the origins of Trump’s Ethereum transactions, it is essential to review his involvement in the world of non-fungible tokens (NFTs). In December 2022, Trump released a collection of 45,000 NFTs priced at $99 each. This collection has since amassed a remarkable trading volume of 15,013 ETH ($35.4 million) on the renowned NFT marketplace OpenSea. Building on this success, Trump launched a second NFT collection priced at the same amount in April. The Trump Digital Trading Cards from this collection generated $119,100 in trading volume between December 17 and 24.
Recently, Trump introduced a new set of digital trading cards that offer enthusiastic fans the chance to win unique perks, including dinner with the former President or a piece of the suit he wore during an infamous encounter with Georgia police. These promotions have undoubtedly fueled interest and boosted Trump’s NFT sales. However, it is crucial to note that the NFT drops and associated campaigns are managed by NFT INT LLC, which operates under a paid license from CIC Digital LLC. The website for Trump’s digital trading cards explicitly clarifies that NFT INT LLC is not owned or controlled by Donald J. Trump, The Trump Organization, CIC Digital LLC, or any of their respective principals or affiliates.
While Arkham Intelligence’s report sheds light on Trump’s recent Ethereum transactions, it is essential to consider the context provided by previous financial disclosures. Citizens for Responsibility and Ethics in Washington previously revealed that Trump held up to $5 million worth of ether and earned at least $4.9 million from NFT licensing fees. These documents listed him as the manager, president, secretary, and treasurer of CIC Digital LLC, reinforcing his direct involvement in the NFT realm.
The recent movement of funds from a wallet associated with Donald Trump to Coinbase highlights his active participation in the crypto market. Through his ventures into NFTs, Trump has not only amassed significant profits but also used his brand to attract dedicated supporters. As the world continues to witness the intersection of politics and cryptocurrencies, the Trump Wallet serves as a notable example of how former high-profile figures can leverage digital assets for financial gain and engagement with their base.
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