Former U.S. President Donald Trump has recently sold a substantial amount of Ethereum, totaling $2.4 million, according to the blockchain intelligence firm Arkham Intelligence. The firm shared a screenshot of a crypto wallet’s transaction history, revealing Trump’s activity in the past three weeks.
“Looks like Donald Trump is selling his ETH,” said Arkham Intelligence.
Arkham Intelligence believed that the wallet in question was directly owned by Trump. Three weeks ago, the former President started sending ETH to Coinbase after accumulating Trump NFT royalties. At its peak, the wallet held a balance of $4 million. However, based on the deposits, Trump has sold 1,075 ETH for $2.4 million.
Arkham Intelligence had previously identified and tracked the wallet, claiming it to be owned by Trump. Prior to this speculation, Trump confirmed the ownership of a crypto wallet that held Ethereum worth up to $5 million, earned from NFT licensing fees.
In January, a filing with the U.S. Office of Government Ethics stated that Trump could have potentially made up to $1 million from CIC Digital, the company responsible for the sale of his NFTs.
Trump’s Involvement in Blockchain and Cryptocurrency
Trump ventured into the blockchain and cryptocurrency space with the release of his trading cards in December 2022. However, his understanding of the crypto industry was questioned by Representative Dean Phillips, who criticized both Trump and President Joe Biden for their lack of knowledge in this field.
During the Crypto Presidential Forum, Democratic nominee Phillips acknowledged his own gaps in understanding financial technology and digital assets. He emphasized the scarcity of expertise in Congress regarding these topics and specifically targeted Trump and Biden, stating that they were ill-equipped to lead the country into the future.
“Joe Biden and Donald Trump, at their age and stage of life, are simply not the right people to lead us forward,” said Phillips.
More recently, Trump introduced his latest NFT collection titled “MugShot” edition. This collection refers to his previous arrest. Interested buyers who purchase 47 or more of these digital trading cards, priced at $99 each, will have the opportunity to have dinner with Trump and receive a piece of the suit he wore during his arrest.
