- Trump’s Ethereum wallet transferred around $2.4 million in ETH to Coinbase, likely generated from NFT royalties based on research firm analysis.
- Trump has released major NFT collections in the past year, including a $15 million drop in 2021 and a 2022 drop generating over $100k in the first week.
- The ETH sales from Trump’s wallet coincided with a 17% ETH price surge over the past month, meaning he likely profited heavily.
Former US President Donald Trump’s Ethereum wallet has recently transferred around $2.4 million generated from NFT royalty sales to Coinbase. This provides further evidence of Trump’s involvement in the NFT space.
Wallet Linked to Trump by Research Firm
The wallet in question was initially identified as likely belonging to Trump back in August 2022 by blockchain research firm Arkham Intelligence. Their assessment was based on financial disclosures filed by Trump earlier that year.
Over $2 Million in ETH Sent to Coinbase
According to Arkham, the wallet associated with Trump has sold 1,075 ETH over the past few weeks, totaling around $2.4 million based on prices at the time. The transfers were made to popular crypto exchange Coinbase. The wallet had previously held a peak balance of over $4 million in ETH.
Trump’s Major NFT Ventures
Trump has released several major NFT collections over the past year that have generated significant trading volume. In December 2021, he dropped a collection of 45,000 NFTs priced at $99 each, amassing $15 million in volume on OpenSea. In April 2022, another 99 Trump NFT drop generated over $100,000 in its first week.
Most recently, Trump unveiled a collection of digital trading cards that offer purchasers the chance to win prizes like dinner with Trump. The NFTs are sold by NFT INT LLC, a company that licenses Trump’s name and likeness.
ETH Prices Surge as Sales Made
The ETH sales coincide with a significant 17% ETH price surge over the past month. At the time of writing, ETH was trading around $2,376, up 67% over the past 24 hours. This means Trump’s wallet likely profited heavily from the timely sales.