Donald Trump’s Wallet Shifts $2.4M in Ether to Coinbase

Recent payments of more than $2.4 million in Ether (ETH) to the well-known cryptocurrency exchange Coinbase have shown that former US President Donald Trump’s cryptocurrency wallet has been active. The disclosure on Trump’s cryptocurrency activity was revealed in a recent post by the on-chain analytics company Arkham Intelligence.

Based on information obtained by Arkham Intelligence, Trump started the transfer of Ether to Coinbase about three weeks ago after months of accruing royalties from the Trump non-fungible token (NFT) collection on OpenSea. There was a $4 million high balance in the wallet. Following that, the analytics company saw that, according to the deposit history, Trump had sold 1,075 ETH, or $2.4 million.

The ethereum in question was produced as royalties from the official Trump NFT collection, offering insight into the financial operations associated with the former president’s foray into the cryptocurrency market. A sell for other tokens or US dollars is frequently indicated by moving holdings to an exchange, although this is not a sure indicator.

Arkham’s Insights into Trump’s Crypto Holdings

According to the most recent information available, Arkham Intelligence, which has been closely monitoring the wallet in issue, estimates that it presently contains a total of $2.2 million worth of different tokens. By using publicly available financial records that matched the token holdings in the wallet that received the highest royalties from the Trump NFT sale, Arkham was able to establish the connection between the wallet and Trump in August.

Even though Trump was initially skeptical about cryptocurrencies when he was president, it appears that he has come around to using them in the last few years. Interestingly, it appears that the former president is profiting from the industry’s erratic price swings.

dated the sales of his NFT collection, Trump made between $500,000 and $1 million, according to a filing dated April. Not from individual NFT sales, but rather via a licensing arrangement between CIC Digital LLC and NFT INC LLC, were these profits generated. This reveals Trump’s engagement in the profitable NFT field and highlights his capacity to take advantage of the digital asset market to make money.