An Ethereum wallet allegedly linked to former President Donald Trump has recently come under scrutiny for transferring millions of dollars in crypto, which is thought to be proceeds from the sale of non-fungible tokens (NFTs).
These findings were highlighted in a December 27 report by Arkham Intelligence, which raised concerns about the financial activities associated with Trump-themed NFTs.
Over the last three weeks, the Ethereum wallet in question transferred 1,075 ETH (around $2.4 million) to the cryptocurrency exchange Coinbase.
The wallet’s current value, according to Arkham Intelligence, is $2.22 million, which includes $1.39 million in Ethereum assets and $644,000 in MATIC, among other tokens.
According to Arkham Intelligence, the movement of funds to Coinbase does not necessarily indicate sales or conversions into other asset types. It’s unclear whether the crypto sent to Coinbase is related to the sale of Trump-themed NFTs.
Trump-themed NFTs have been introduced to the market by NFT International LLC, with a disclaimer on its website stating, “NFT INT LLC uses Donald J. Trump’s name, likeness, and image under a paid license from CIC Digital LLC, which license may be terminated or revoked according to its terms.”
The relationship between NFT sales and Ethereum wallet movements is still unclear.
James Wilson is a crypto writer and researcher with over 5 years of experience in the industry. He is a graduate of the University of California, Berkeley, where he studied computer science and economics. After graduating, he worked as a software engineer at a major tech company before transitioning to a career in crypto.
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