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Trump-Linked Crypto Wallet Sparks Speculation with $2.4M ETH Move to Coinbase

Wallet Associated with Donald Trump's NFT Collection Initiates Significant Transfer.

by Alexander
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A crypto wallet linked to the former U.S. president, Donald Trump, has recently executed a substantial transaction, transferring millions of dollars worth of Ethereum (ETH) to Coinbase, a centralized crypto exchange. The wallet in question has been accumulating royalties from Trump’s NFT collection over the past few months, and this movement raises questions about the intention behind the transfer.

Key Details:

  1. Transfer to Coinbase: The Ethereum wallet, known for holding royalties from Donald Trump’s NFT collection, has sent 1,075 ETH, equivalent to approximately $2.4 million, to the Coinbase exchange.
  2. Remaining Holdings: Despite the transfer, data from Arkham Intelligence reveals that the Trump-associated wallet still possesses a diverse range of cryptocurrencies valued at over $2.2 million.
  3. Composition of Holdings: The wallet’s holdings include the majority in ETH (around $1.4 million), followed by Wrapped ETH (WETH) with nearly $650,000 and the TRUMP token, valued at approximately $177,000.
  4. Peak Value: At its peak, the wallet boasted holdings totaling around $4 million in various cryptocurrencies, showcasing the dynamic nature of the portfolio.
  5. New NFT Collection: The timing of this transfer aligns with the launch of a fresh NFT collection titled the “Mugshot Edition.” This release alludes to recent legal challenges faced by Donald Trump, providing a unique thematic angle to the NFT offerings.

Trump-related crypto wallet | Source: Arkham Intelligence

In mid-December, Trump announced the release of the Mugshot Edition NFTs on his social network Truth Social. The collection features an infamous mug shot taken after Trump’s booking in an Atlanta-area jail last August, related to charges linked to the alleged conspiracy to overturn Georgia’s election results.

As the crypto wallet linked to Trump continues to make significant moves, the crypto community awaits further developments, speculating on the motives behind these transactions and the potential impact on Trump’s NFT ventures.

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