Wallet Linked to Donald Trump Moves $2.4 Million in ETH to Coinbase
Donald Trump's linked wallet transfers $2.4 million in ether to Coinbase, possibly for sale. Active in crypto despite past skepticism.
On-chain firm, Arkham Intelligence recently revealed that a wallet linked to U.S. Former President, Donald Trump moved about $2.4 million worth of ether (ETH) to Coinbase, possibly for selling. Trump began transferring ETH to Coinbase three weeks ago, after earning from Trump NFT royalties, Trump reportedly reached a peak balance of $4 million.
The former President made these ethers from royalties of the Trump NFT collection on OpenSea. While moving crypto to an exchange like Coinbase often suggests a sell-off, it may not always be the case.
Arkham is a blockchain platform that could be used to track wallets and digital asset transactions on the blockchain, They reported that Trump still holds $2.2 million in various tokens. They were able to link this wallet to Trump due to the matching token amounts in public financial disclosures and the wallet’s earnings from Trump NFT sales.
Despite previous skepticism about crypto, Trump seems to be actively using and profiting from it. An April report showed he made between $500,000 and $1 million from his NFT collection, through a licensing deal with CIC Digital LLC and NFT INC LLC.
