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Former U.S. President Donald Trump has reportedly divested a significant amount of Ethereum, totaling $2.4 million, according to insights from Arkham Intelligence.
In a recent post, the blockchain intelligence firm shared a screenshot showcasing the transaction history of a crypto wallet over the past three weeks, suggesting, “Looks like Donald Trump is selling his ETH.” Arkham Intelligence posits that the wallet in question is directly linked to and owned by Trump.
“Three weeks ago, he initiated ETH transfers to Coinbase after months of accumulating Trump NFT royalties. His peak balance was $4 million,” elaborated the post. “Based on the deposits, he has sold 1,075 ETH for $2.4 million.”
Looks like Donald Trump is selling his ETH.
— Arkham (@ArkhamIntel) December 27, 2023
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
In August, Arkham Intelligence had previously tracked and identified the wallet, asserting its ownership by the former U.S. President. This speculation was later substantiated by Trump himself, confirming ownership of a crypto wallet holding up to $5 million worth of Ethereum earned from NFT licensing fees.
In a January filing with the U.S. Office of Government Ethics, it was disclosed that Trump could have potentially earned up to $1 million from CIC Digital, the company responsible for the sale of his NFTs.
Criticism and Concerns: Trump’s Crypto Trading Cards and Presidential Candidates’ Understanding of Crypto
Trump’s trading cards, released in December 2022, have become symbolic of his foray into the blockchain and cryptocurrency realm. However, both Trump and President Joe Biden faced criticism for their perceived lack of understanding of crypto, a point notably emphasized by Representative Dean Phillips.
During the Crypto Presidential Forum, Democratic nominee Phillips acknowledged his knowledge gaps in financial technology and digital assets but underscored the broader issue of expertise scarcity in Congress on these topics. Phillips specifically criticized Trump and Biden, stating, “Joe Biden and Donald Trump, at their age and stage of life, are simply not the right people to lead us forward.”
Donald Trump’s Unique NFT Offer: “MugShot” Edition and Exclusive Dinner Package
In a recent development, Trump has introduced his latest “MugShot” edition NFT collection, drawing attention to his previous arrest. This unique collection offers buyers a special incentive: those purchasing 47 or more of these $99-priced digital trading cards will be granted an exclusive dinner with Trump, accompanied by a piece of the suit he wore during his arrest.
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