Crypto Wallet Linked to Donald Trump Sent $2.4M in Ether to Coinbase

A wallet linked to former U.S. President Donald Trump moved over $2.4 million worth of ether (ETH) to crypto exchange Coinbase in the past few weeks where they presumably sold those holdings, on-chain firm Arkham Intelligence said in a Thursday post.

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

These ether were generated as royalties from the official Trump non-fungible token (NFT) collection on marketplace OpenSea. Sending holdings to an exchange often implies sales for other tokens or U.S. dollars, although this isn’t compulsory.

Arkham tracks the wallet on its platform and it holds $2.2 million worth of various tokens as of Thursday. It tied the wallet to Trump in August based on public financial disclosures, which mentioned the same amounts of token holdings as found in a wallet holding the largest royalties derived from the Trump NFT sale.

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

Despite being a crypto skeptic during his term as president, Trump appears to have been a crypto user in recent years – likely even sitting on profits from the industry’s price gyrations.

An April filing revealed Trump made anywhere between $500,000 and $1 million from sales of his NFT collection. These earnings were derived via a licensing agreement CIC Digital LLC has with NFT INC LLC, and not from individual sales of the NFTs.