Former U.S. President Donald Trump has reportedly sold a substantial amount of Ethereum, totaling $2.4 million, according to information from Arkham Intelligence.
In a recent post, the blockchain intelligence firm shared a screenshot of a crypto wallet’s transaction history spanning the last three weeks, suggesting, “Looks like Donald Trump is selling his ETH.” Arkham Intelligence asserted that the wallet in question was directly owned by Trump.
The post detailed the transaction history, noting, “Three 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.”
Arkham Intelligence had previously identified and tracked the wallet in August, claiming it belonged to the former U.S. President. Before this speculation, Trump had confirmed ownership of a crypto wallet holding up to $5 million worth of Ethereum earned from NFT licensing fees.
A filing with the U.S. Office of Government Ethics in January had indicated that Trump could have earned up to $1 million from CIC Digital, the company responsible for selling his NFTs.
Trump and Biden Criticized for Not Understanding Crypto
In December 2022, Trump’s foray into the blockchain and cryptocurrency space was marked by the release of his trading cards. However, both Trump and President Joe Biden faced criticism from Representative Dean Phillips for what was perceived as a lack of understanding about cryptocurrencies.
During the Crypto Presidential Forum, Democratic nominee Phillips acknowledged his own knowledge gaps in financial technology and digital assets. Still, he underscored the broader issue of a lack of expertise in Congress regarding these topics, singling out Trump and Biden for specific criticism.
Phillips stated, “The two leading candidates right now, on both the left and the right, for the U.S. presidency are absolutely not in positions to understand it, prepare us for it, anticipate it, and lead us into the next century.” He went on to assert that, given their age and stage of life, Joe Biden and Donald Trump were not the ideal individuals to guide the nation forward in the context of emerging technologies and financial innovations.
The “MugShot” Edition Trading Cards
Earlier this month, Donald Trump launched his latest NFT collection, the “MugShot” edition, which references his previous arrest. In this unique offering, buyers who acquire 47 or more digital trading cards priced at $99 each will be rewarded with a dinner with Trump and a portion of the suit he wore during the mentioned arrest. This unconventional approach combines digital assets with a physical memento, providing a distinctive incentive for collectors interested in Trump’s NFT creations.
