Former US President Donald Trump Selling ETH Worth Millions of Dollars, Analysis Indicates

Former US President Donald Trump Is Selling ETH Worth Millions of Dollars, Analysis Indicates

An analysis by crypto intelligence firm Arkham indicates that Donald Trump, the 45th President of the United States, is selling millions of dollars in ether acquired from selling his non-fungible token (NFT) collections. The analytics firm also revealed that Trump’s highest crypto balance reached $4 million. Based on deposit analysis to date, the former U.S. president has sold 1,325 ETH, totaling over $3 million.

Donald Trump Selling Ether, Analysis Suggests

Crypto intelligence firm Arkham shared an analysis on social media platform X on Thursday, revealing the amount of ether former U.S. President Donald Trump appears to have sold.

“Looks like Donald Trump is selling his ETH,” the firm wrote, adding that three weeks ago, the former U.S. president started sending his cryptocurrencies to Coinbase after months of accumulating from the sale of non-fungible tokens (NFTs). “His peak balance was $4 million,” the firm added, noting that based on the deposits, Trump has sold 1,075 ETH for $2.4 million so far. However, 250 more ETH have been transferred to Coinbase since Arkham’s post. At the time of writing, the total transferred amounted to more than $3 million.

Arkham previously identified a crypto wallet linked to Trump based on public disclosures.

Trump has launched three NFT collections to date, with the most recent being the Mugshot Edition unveiled earlier this month. Notably, the latest release marks his first inclusion of physical cards. Customers acquiring 47 cards from the Mugshot Edition will receive a fragment of the suit worn by Trump in his mugshot, along with an invitation to a gala dinner at his Mar-a-Lago home.

The former U.S. president’s first NFT collection was launched in December last year. It was a digital card collection featuring art of his life and career. His second NFT digital card collection was launched in April, which was 19 days after he was indicted with 34 felony counts of allegedly falsifying business records.

In August, Trump disclosed in a filing with the Federal Election Commission (FEC) that a company that made $9.7 million by licensing his image on NFTs, CIC Digital LLC, maintained a cryptocurrency wallet with at least $1 million in ethereum, which produced income of $2.8 million.

What do you think about former U.S. President Donald Trump selling his ETH proceeds from NFT collections? Let us know in the comments section below.



from Bitcoin News https://ift.tt/Z2rA1Sv

Comments

Post a Comment

Popular posts from this blog

L2 Crypto Project Blast Achieves $660M TVL Amid Mockery for Key Developer Recruitment

Image
Recent data reveals that Blast, the new layer two (L2) blockchain platform, has amassed a significant $660 million in value within its decentralized finance (defi) protocol. Concurrently, while accumulating a variety of crypto assets, the initiative has commenced a search for experienced senior blockchain developers. While Amassing $660M, L2 Blast Project Searches for Developers In recent times, Blast has emerged as a focal point of interest. This project, conceptualized by Pacman , the mind behind the non-fungible token (NFT) marketplace Blur, has rapidly gained traction. Within a span of less than a week, the platform’s total value locked (TVL) soared to approximately $400 million. Concurrently, Blast faced allegations of resembling a Ponzi scheme. During this period, Paradigm, a principal investor in the project, admitted that the team had overstepped in certain aspects of communication and implementation. Pacman has also countered the Ponzi scheme allegations and further cl
Read more

Harsh Laws Make Bitcoin Holders Consider Renunciation or Dual Citizenship

Image
As digital currencies become a mainstay in society, a great number of governments have enforced strict tax guidelines, severe money transmission rules, and tough regulations. Because of a few nation-states’ harsh rules against cryptos, there are individuals who plan to renounce their citizenship in order to become stateless. Some people will also attempt to get double-citizenship, as both of these acts may help sovereign individuals avoid government intrusion and theft. Also Read: As FATF Regulations Galvanize, Crypto Mixing Applications Are Targeted A Cryptocurrency Advocate’s Quest for Financial Sovereignty May Involve Hard Choices It’s been close to 11 years since the inception of Bitcoin and during the last few years government agencies and law enforcement have been cracking down on digital currency holders. In certain areas around the world, a few countries have extremely difficult crypto laws and stringent capital gains taxes. Countries like the U.S. have imposed strict regul
Read more

2021 Bitcoin Price Predictions: Analysts Forecast BTC Values Will Range Between Zero to $600K

Image
As bitcoin has touched new price highs on Thursday nearing the $50k handle, people have been curious as to where the price will go in the future. Meanwhile, despite the gains so far, a number of luminaries, analysts, executives, and proponents from the crypto space believe the leading crypto asset will reach between $60k to six-digits this year. Mike Novogratz Predicts $100K Bitcoin: ‘Other CFOs and CEOs Are Saying, What Should We Be Doing?’ Satoshi Nakamoto’s invention has gained mass appeal in recent times as the leading digital asset bitcoin ( BTC ) has reached its highest value ever in 2021. On Thursday morning (EST), BTC spiked to an all-time high (ATH) at $48,697 per unit. Earlier in the morning at around 2 a.m., bitcoin was exchanging hands for $44,485 and saw an 8.98% increase since then. At the time of publication, at 6:30 p.m. (EST) on February 11, 2021, bitcoin (BTC) is swapping for $47,821 per coin. With BTC so close to the $50k mark, people have been forecasting
Read more