Trump starts shifting ETH earned from his NFTs
Former United States President Donald Trump appears to be cashing out a great deal of Ether (ETH) he made through selling his NFTs — with his affiliated wallet transferring 1,075 Ether (ETH) into Coinbase since Dec. 8.
Trump made the ETH from his NFT collections, which recently included his infamous mugshot that was captured when he surrendered himself to authorities in Georgia in August.
According to the blockchain intelligence platform Arkham, the Trump-linked wallet has moved 1,075 ETH, worth about $2.4 million, to Coinbase over 13 transactions since Dec. 8. Most withdrawals came in batches of 100, 125 and 200 ETH.
Looks like Donald Trump is selling his ETH.
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
— Arkham (@ArkhamIntel) December 27, 2023
Trump’s ETH balance had been steadily increasing since October, reaching a peak of $4 million before the selling spree began.
Years ago, Trump referred to cryptocurrencies as “fake” and “a disaster waiting to happen” in August 2021 when he defended the United States dollar as a key to the country’s economic success.
He’s running for president again in the upcoming 2024 election but his campaign was hit with a recent roadblock when Colorado’s Supreme Court removed him from the state’s ballot.
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