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.
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.
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.