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Home»BLOCKCHAIN NEWS»Trump-linked cryptocurrency wallet cashes out $2.4 million worth of ETH
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Trump-linked cryptocurrency wallet cashes out $2.4 million worth of ETH

By Crypto FlexsDecember 28, 20232 Mins Read
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Trump-linked cryptocurrency wallet cashes out .4 million worth of ETH
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A cryptocurrency wallet linked to the former US president transferred millions of dollars worth of Ethereum to Coinbase, according to on-chain data.

An Ethereum wallet that has been accumulating royalties from Donald Trump’s NFT collection for months has started transferring funds to a centralized cryptocurrency exchange. According to Arkham Intelligence, the wallet I transferred it 1,075 ETH (approximately $2.4 million at time of transaction) was paid to Coinbase.

It looks like Donald Trump is selling his ETH.

Three weeks ago, he started sending ETH to Coinbase after months of accumulating Trump NFT royalties. His highest balance was $4 million.

Based on deposits, so far he has sold 1,075 ETH for $2.4 million. pic.twitter.com/JZzA3cS2je

— Arkham (@ArkhamIntel) December 27, 2023

The purpose of transferring the funds to Coinbase remains unclear, but data shows Trump-linked wallets still hold several cryptocurrencies worth more than $2.2 million.

According to wallet data, most funds are allocated to ETH (about $1.4 million), followed by WETH (about $650,000) and TRUMP tokens (about $177,000). As the data shows, the top wallets held approximately $4 million worth of various cryptocurrencies.

Trump related cryptocurrency wallet | Source: Arkham Intelligence

The transfer coincides with the unveiling of a new NFT collection titled “Mugshot Edition,” a nod to the recent legal troubles faced by Republican politicians.

As crypto.news reported, in mid-December Trump announced via his social network Truth Social the launch of a new non-fungible token featuring the former president’s infamous mugshot from his incarceration in an Atlanta-area jail last August. Announced. The charges relate to an alleged conspiracy to overturn Georgia election results.

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