Donald Trump Liquidating Ethereum Holdings

Former US President Donald Trump has initiated the divestment of a portion of his Ethereum holdings.

Donald Trump Liquidating Ethereum Holdings_65b97470271ce.webp

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.

Related: Art Broker Achieves $35M in 2023 Digital Art Sales

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.

donald trump liquidating ethereum holdings 65b9747029eb7

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.

(100 votes)

5.0/5

(100 votes)

Latest

Binance Linked Group Joins Drafting Of Crypto Legislation In Kenya

News | Editor Choice | Policy & Regulations

Binance-Linked Group Joins Drafting of Crypto Legislation in Kenya

The inclusion of an organization allegedly closely tied to Binance in Kenya’s new crypto regulatory board has sparked concerns among local startups about potential policy manipulation and unfair competition.

Transforming $86,000 Into $1 Million Through Daily Bitcoin Dca

Editor Choice | Bitcoin

Transforming $86,000 into $1 Million through Daily Bitcoin DCA

An account X is sharing a video about the daily DCA (Dollar-Cost Averaging) journey of Bitcoin from $86,000 to $1 million after nearly 2 years.

The American Bank Urges Customers To Sell These 3 Coins

Altcoin | Editor Choice | Policy & Regulations

The American Bank Urges Customers to Sell These 3 Coins

The federally licensed digital bank Anchorage Digital has urged customers to withdraw funds from USDC, AUSD, and USD0.

Bitcoin Continues To Rise As Market Enters A Crucial Phase

News | Bitcoin | Editor Choice

Bitcoin Continues to Rise as Market Enters a Crucial Phase

The cryptocurrency market is at a decisive moment as Bitcoin hovers around the $110,000 mark, signaling a potential breakout amid an intense standoff between bulls and bears.

Crypto Market Faces Volatility Ahead Of Trump Tariff Pause Expiration

News | Editor Choice | Policy & Regulations

Crypto Market Faces Volatility Ahead of Trump Tariff Pause Expiration

The crypto market is entering a sensitive phase as the Trump tariff pause nears its end and nearly $15 billion in Bitcoin options are set to expire, putting significant pressure on investor sentiment.