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Donald Trump-Linked Crypto Wallet Dumps $2.4M in Ether (ETH)

Donald Trump-Linked Crypto Wallet Dumps $2.4M in Ether (ETH)

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Former President Donald Trump is dumping his ether (ETH) holdings. Trump reportedly sold off 1,075 ETH in the last three weeks. 

A crypto portfolio believed to belong to former President Donald Trump sold 1,075 ETH over the past three weeks, worth an estimated $2.4 million. 

Wallet Sent $2.4 Million to Coinbase

According to a social media post by blockchain data firm Arkham Intelligence, a wallet believed to be owned by Donald Trump sold off 1,075 ETH over the past three weeks. According to Arkham, the ETH was sent to Coinbase.

Arkham wrote on X (formerly Twitter):

“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.” 

For weeks, Trump has tried to revive his non-fungible token (NFT) trading card business but has seen little success. The former President has tried to expand his NFT business three times but now seems to be divesting his holdings. 

Arkham reports that Trump still holds around $2.2 million in various crypto, including $1.4 million in $ETH, $649,000 in $WETH, $167,000 in $MAGA coin, $340 worth of $PEPE, and $145 in $JESUS. 

Trump Continues Peddling NFTs

Trump’s latest NFT collection is called the “Mugshot Edition” amid his ongoing legal woes. The Mugshot Edition allows individuals who buy 47 or more Trump cards to have dinner with the former President at his Mar-a-Lago estate. Buyers will also receive a piece of Trump's suit he wore when the mugshot was taken. 

The former President launched an NFT collection in December 2022, featuring him in several avatars, including a superhero, an astronaut, and a Nascar driver. After Trump’s arrest in April this year, demand for the collection skyrocketed, with sales increasing by 462%. The prices and volumes of Trump’s NFT collection saw another massive surge after an interview with media personality Tucker Carlson

In August, Trump revealed he holds around $250,000 to $500,000 worth of ETH. The former President’s outspoken crypto revelations are curious, given how sceptical he was about crypto. In 2019, Trump publicly said he did not favour Bitcoin and described it as “not money.” He added its valuation is based on thin air.

“I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity....”

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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