Donald Trump began transferring ether to Coinbase approximately three weeks ago. These ETH tokens had been accumulating as royalties from his previously released collections of non-fungible tokens (NFTs) for several months. One of his most noteworthy collections, called the Mugshot Edition, was unveiled in December and focused on his arrest and trial. Furthermore, Trump released 45,000 tokens on the Polygon network towards the end of last year.
According to Arkham Intelligence, Donald Trump’s cryptocurrency balance peaked at $4 million. Based on available information, it appears that the ex-president has already sold 1,075 ETH for $2.4 million. The average selling price of each coin was estimated to be $2,232. It’s difficult to determine the exact profit Trump made from the sale, as the prices at which the royalties were initially paid remain undisclosed.
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
The deposits made to Coinbase were sourced from different addresses, indicating that the former president used separate addresses for each of his NFT collections. Arkham reveals that the largest deposit Trump made to Coinbase amounted to 200 ETH, equivalent to approximately $446,511. Though it is uncertain whether these ether sales are directly linked to Trump’s potential new political campaign, it is worth noting that the ETH price has experienced a significant surge of over 17% in the past month. This indicates that Trump may have strategically capitalized on this surge to sell his assets and make a profit.
In August, the US Office of Government Ethics (CREW) reported Trump’s cryptocurrency investments to be $2.8 million, contradicting previous reports claiming he held crypto assets worth between $250,000 and $500,000.