Donald Trump Sells $2.4 Million Ethereum: Arkham Intelligence

cryptonews.com:

Former U.S. President Donald Trump has sold a substantial amount of Ethereum, amounting to $2.4 million, according to Arkham Intelligence.

In a recent post, the blockchain intelligence firm Arkham Intelligence shared a screenshot of a crypto wallet’s transaction history over the past three weeks, saying, “Looks like Donald Trump is selling his ETH.” Arkham Intelligence believed that the wallet was connected to and directly owned by Trump.

“Three weeks ago he started sending ETH to Coinbase after months of accumulating Trump NFT royalties. His peak balance was $4 million,” wrote the post. “Based on the deposits, so far he’s sold 1,075 ETH for $2.4 million.”

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

Arkham Intelligence tracked and identified the wallet in August and claimed that it was owned by the former U.S. President. Prior to Arkham Intelligence’s speculation, Trump confirmed that he owned a crypto wallet that held up to $5 million worth of Ethereum earned from NFT licensing fees.

According to a filing with the U.S. Office of Government Ethics in January, Trump could have made up to $1 million from CIC Digital, the company behind the sale of his NFTs.

Initially released in December 2022, Trump’s trading cards marked his involvement in the blockchain and cryptocurrency space. In the meantime, Trump and President Joe Biden were criticized for not understanding crypto by Representative Dean Phillips.

During the Crypto Presidential Forum, Democratic nominee Phillips