Cryptocurrency portfolio linked to former President Trump may have sold $2.4 million worth of Ethereum – Arkham data

Selling 1,075 ETH?

Former President Donald Trump appears to have sold $2.4 million (340 million yen) worth of virtual currency Ethereum (1,075 ETH). Arkham Intelligence, a blockchain data analysis company, reported.

According to Arkham, “Three weeks ago, Trump began transferring ETH to the Coinbase exchange after accumulating royalties from Trump NFTs (Trump Digital Trading Cards) over several months. At its peak, the balance was $4 million.”

Looks like Donald Trump is selling his ETH.

3 weeks ago he started sending ETH to Coinbase after months of accumulating Trump NFT royalties. His peak balance was $4 million.

Based on the deposits, so far he’s sold 1,075 ETH for $2.4 million. pic.twitter.com/JZzA3cS2je

— Arkham (@ArkhamIntel) December 27, 2023

Regarding the Ethereum portfolio held by Mr. Trump, according to financial documents from August of this year, it was “ETH worth between 36 million yen and 72 million yen ($250,000 to $500,000),” but since then, it has been based on transactions of Trump NFTs. He was increasing the number of ETH he held by acquiring royalty fees and releasing a new “Mugshot Edition NFT.”

According to data from The Block, the trading volume of Trump NFTs between December 17th and 24th was approximately $120,000.

connection: Former President Trump releases new NFT “Mugshot Edition” containing fragments of his suit at the time of his arrest

Trump NFTs are promoted and sold by a company called NFT INT LLC, which is not affiliated with Trump himself, the Trump Organization, or the licensor company CIC Digital LLC. Meanwhile, Trump was previously listed as a “manager, president, secretary and treasurer” at CIC Digital LLC and CIC Ventures LLC.

Additionally, although the official website states that NFT proceeds will not be used directly for the re-election campaign, it appears that Mr. Trump is personally receiving a portion of the proceeds.

Trump announced in November last year that he would run for president in 2024.

connection: Former US President Trump talks about his NFT trading card that sold out immediately

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