Source: Pixabay / heblo (Edited by Hongji Feng)

Former U.S. President Donald Trump has sold a substantial amount of Ethereum, amounting to $2.4 million, according to Arkham Intelligence.

In a recent post, the blockchain intelligence firm Arkham Intelligence shared a screenshot of a crypto wallet’s transaction history over the past three weeks, saying, “Looks like Donald Trump is selling his ETH.” Arkham Intelligence believed that the wallet was connected to and directly owned by Trump.

“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.”

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

Arkham Intelligence tracked and identified the wallet in August and claimed that it was owned by the former U.S. President. Prior to Arkham Intelligence’s speculation, Trump confirmed that he owned a crypto wallet that held up to $5 million worth of Ethereum earned from NFT licensing fees.

According to a filing with the U.S. Office of Government Ethics in January, Trump could have made up to $1 million from CIC Digital, the company behind the sale of his NFTs.

Trump and Biden Criticized for Not Understanding Crypto

Initially released in December 2022, Trump’s trading cards marked his involvement in the blockchain and cryptocurrency space. In the meantime, Trump and President Joe Biden were criticized for not understanding crypto by Representative Dean Phillips.

During the Crypto Presidential Forum, Democratic nominee Phillips acknowledged his own gaps in knowledge about financial technology and digital assets, but pointed out the scarcity of expertise in Congress regarding these topics, specifically targeting Trump and Biden.

“The two leading candidates right now, on both the left and the right, for the U.S. presidency are absolutely not in positions to understand it, prepare us for it, anticipate it, and lead us into the next century,” said Phillips. “Joe Biden and Donald Trump, at their age and stage of life, are simply not the right people to lead us forward.”

The “MugShot” Edition Trading Cards

Earlier this month, Trump introduced his latest “MugShot” edition NFT collection, referring to his previous arrest. Buyers who purchase 47 or more of these $99 priced digital trading cards will be granted a dinner with Trump and a piece of the suit he wore during his arrest.

The post Donald Trump Sells $2.4 Million Ethereum: Arkham Intelligence appeared first on Cryptonews.