Reports indicate that former US President Donald Trump is currently divesting a portion of his Ethereum (ETH) holdings, evident from recent transactions involving labeled addresses.
The Optimal Moment for Ethereum Divestment
Donald Trump boasts a significant involvement in the realm of digital currencies, with Ethereum standing out as one of his preferred assets. The ongoing divestment has been verified by Arkham Intelligence, a crypto intelligence service provider, which highlights Coinbase Exchange as the platform through which the Ethereum holdings are being liquidated.
As disclosed by Arkham Intelligence, the process of transferring Ethereum to Coinbase for liquidation commenced approximately three weeks ago. These divestment maneuvers follow months of accumulating Ethereum as compensation for the various Non-Fungible Token (NFT) Collections that the former Head of State has introduced.
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’s exclusive information reveals that Donald Trump has successfully offloaded a total of 1,075 ETH, equivalent to around $2.4 million. This suggests an average selling price of $2232.56 per Ethereum. However, determining the profit margin from these Ethereum sales proves challenging, given the absence of recorded prices at the time of royalty payment.
An examination of Coinbase deposits indicates that funds were funneled into the exchange from distinct wallet addresses. This underscores the observation that the former President managed multiple accounts for all of his NFT Collections. According to Arkham’s data, the most substantial deposit into Coinbase amounted to 200 ETH, valued at approximately $446,511.63 based on earlier estimated averages.
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While the liquidation of Ethereum holdings by former President Donald Trump currently shows no direct ties to the ongoing Trump campaign, the timing coincides with Ethereum’s notable 17% surge in the past month, providing an opportune position for divestment.
Donald Trump’s Latest NFT Endeavor
Former President Donald Trump continues to make waves in the digital currency realm with his consistent release of NFT collections. The most recent addition to his portfolio, known as the “Mugshot Edition,” has garnered widespread attention due to its intriguing narrative and associated incentives.
This particular collection draws inspiration from Donald Trump’s arrest in August, featuring his mugshot photograph transformed into the NFT series. Notably, two enticing perks accompany the Mugshot Edition NFT. First, holders of the NFT are eligible for a state dinner at Donald Trump’s Mar-a-Lago resort in Florida. Second, the suit worn by the former President on the day of his arrest will be disassembled and distributed in pieces to the NFT holders, adding a unique and tangible dimension to the collection.
