Donald Trump-linked crypto portfolio has sold off ether worth $2.4 million, Arkham Intelligence says

Donald Trump-linked crypto portfolio has sold off ether worth .4 million, Arkham Intelligence says
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Former President Donald Trump appears to have sold off $2.4 million worth of ether, according to blockchain data Arkham Intelligence has been tracking for months.

“Looks like Donald Trump is selling his ETH +6.17% ,” Arkham wrote on the social media platform X. “Three 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.”

Arkham initially identified digital assets it believes belong to Trump back in August. The firm based its findings on financial disclosures the former president filed earlier that month.

Trump’s NFT collections

Donald Trump released a collection of 45,000 NFTs priced at $99 each in December 2022. The collection has amassed 15,013 ETH ($35.4 million) in total trading volume, according to the NFT marketplace OpenSea. Then in April, Trump then released a second NFT collection, which were also priced at $99 a piece.

Trump Digital Trading Cards most recently generated $119,100 in trading volume during the week between Dec. 17 and Dec. 24, according to The Block’s Data Dashboard. 

Earlier this month, Trump unveiled another set of digital trading cards that give fans the chance at scoring perks like dinner with the former president, or nabbing a piece of the suit he wore when taken in by Georgia police after being indicted in August.

Behind the scenes

Trump’s NFT drops and promotions have been handled by NFT INT LLC which “is not owned, managed or controlled by Donald J. Trump, The Trump Organization, CIC Digital LLC or any of their respective principals or affiliates,” according to the website for the former president’s digital trading cards.

“NFT INT LLC uses Donald J. Trump’s name, likeness and image under paid license from CIC Digital LLC, which license may be terminated or revoked according to its terms,” the website also states.

Trump has previously been listed as CIC Digital LLC’s manager, president, secretary and treasurer, according to disclosures posted by Citizens for Responsibility and Ethics in Washington. Those documents showed that the former president owned up to $5 million worth of ether and has earned at least $4.9 million from NFT licensing fees.

The recent sales tracked by Arkham come as ether has surged 17% over the past month. The world’s second largest cryptocurrency by market capitalization was trading at $2,352 at 2:02 p.m. ET, up 6.1% over the past 24 hours. 

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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