- Trump-linked wallet moves $2.4M in Ethereum to Coinbase.
- Trump earns royalties from NFTs, exchanges 1,075 ETH.
- Trump’s wallet holds $2.2M in tokens, per Arkham Intelligence.
In a report released on Thursday, Arkham Intelligence, a service that analyzes blockchain data, noted that a wallet linked to the former President of the United States, Donald Trump, moved more than $2.4 million worth of Ethereum
He began moving ETH to Coinbase three weeks ago after months of accruing royalties from Trump NFTs. Arkham tweeted that the largest sum he transferred was $4 million. Based on the deposits to date, he has exchanged 1,075 ETH for $2.4 million.
Income from NFTs
Income from royalties generated by the authorized collection of non-fungible tokens (NFTs) associated with Trump on the OpenSea platform is added to the assets. Although it is not obligatory, transferring assets to an exchange typically indicates they are being traded for different tokens or conventional currency.
As of Thursday, the wallet tracked by Arkham on its platform contained an assortment of tokens worth $2.2 million. Financial disclosures made public in August showed that the wallet with the largest royalty earnings from the sale of Trump’s NFTs also possessed the greatest amounts of tokens, thus connecting them. Consequently, this wallet was tied to Trump.
While in office, Trump expressed doubts about cryptocurrencies, but it appears that he has recently engaged with them and could be holding profits from the industry’s price changes.
According to an April filing, Trump generated revenue ranging from $500,000 to $1 million from his NFT collection. This income was not derived from the direct sale of NFTs but through a licensing agreement between NFT INC LLC and CIC Digital LLC.
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