Donald Trump Sells 1,075 Ethereum Generated from NFT Collections: Arkham Intelligence

Jimmy Aki
Last Updated:

Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.

Former U.S. President Donald Trump has sold 1,075 ETH, amounting to $2.4 million, from his non-fungible token (NFT) mugshot collections, according to Arkram Intelligence.

Trump’s NFT Cashout on Frenzy

In a recent development, an Ethereum wallet associated with former U.S. President Donald Trump has attracted attention for its substantial cryptocurrency activity, particularly in the sale of non-fungible tokens (NFTs).

According to a December 27 post by the leading blockchain intelligence firm Arkham on X, there has been a noteworthy change in Trump’s cryptocurrency portfolio over the last three weeks, involving the liquidation of approximately $2.4 million worth of ETH.

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

The data reveals that most withdrawals occurred in batches of 100 to 200 ETH. This strategic move by Trump in the cryptocurrency market follows a challenging period for his NFT ventures.

While Trump’s initial NFT collections saw considerable value appreciation, subsequent releases, including the ‘Mugshot Edition,’ faced a tepid reception, with less than half of the collection minted and a noticeable decline in floor prices.

Meanwhile, social media reactions were diverse, especially on X (formerly Twitter). Some criticized Trump’s departure from Ethereum, while others speculated about a potential transition to the Solana network.

Despite the speculation, Trump has remained silent on the motivations behind these recent crypto sell-offs. However, in recent public statements, he has acknowledged a legal debt of more than $100 million stemming from ongoing criminal investigations.

Source: Arkham’s Donald Trump Portfolio

Arkham’s analysis also highlighted that despite selling a substantial amount of ETH, Trump still holds $2.2 million in various cryptocurrencies, including $1.4 million in ETH, $649,000 in WETH, $176,000 in TRUMP coin, $342 in Pepecoin, and $4,600 in MATIC, among other holdings.

Oversight on Trump’s NFT Collections So Far

In December 2022, Trump launched a collection of 45,000 NFTs, priced at $99 each. This initial release generated a total trading volume of 15,013 ETH, equivalent to $35.4 million.

He followed up with a second NFT collection in April, featuring items also priced at $99 each.

Expanding his digital offerings, Trump unveiled a fresh set of digital trading cards, also known as “Mugshot,” earlier this month.

These cards offer fans unique opportunities, including the chance to win perks like a dinner with the former president or the acquisition of a piece of the suit he wore when arrested by Georgia police after being indicted in August.

Concerns Loom Over Trump’s Sell-Off Intentions

Amidst widespread speculation on social media, the true motives behind Trump’s recent ETH sell-off linger without a definitive answer.

Within social media communities, including X, crypto enthusiasts ponder whether the former U.S. president’s involvement with cryptocurrency might be a strategic move to resonate with citizens excited about the potential growth of digital assets.

This speculation stems partly from Trump’s previous skepticism and disinterest in Bitcoin and other crypto assets, as evident in his tweet on July 12, 2019.

The former president is gearing up for another presidential run in the 2024 election. However, his campaign faced a recent setback when the Colorado Supreme Court removed him from the state’s ballot, adding a layer of complexity to his political endeavors.

About Jimmy Aki PRO INVESTOR

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works.