Donald Trump is throwing away his bags.
It’s been weeks since he tried to revitalize his NFT trading card business with little success. ThirdThe former president appears to be selling off his significant cryptocurrency holdings.
According to an analysis by blockchain information company Arkham, Trump began sending ETH accumulated from NFT royalties to Coinbase early this month. Over the past three weeks, he sold 1,075 ETH, for a total of $2.4 million.
Arkham says Trump still holds $2.2 million in various cryptocurrencies, including $1.4 million in ETH, $649,000 in WETH, $167,000 in MAGA coins, $340 in Pepecoin, and $145 in JESUS.
Trump’s first NFT collection seemed poised to be a success. His value has increased significantly since his debut in December last year. His second, released in April, hovered just below its original mintage price of $99. However, with the release of the third NFT collection, 100,000 special “Mugshot Editions” were released. piece of suit Trump wore it while taking reservations in Georgia At the time of his arrest earlier this fall, it seemed like Trump NFT fatigue was setting in.
At the time of writing, less than half of the collection is complete. cast. Additionally, price floors for Trump’s first two NFT collections started to plummet When the ‘Mugshot Edition’ was announced early this month,
Some Twitter users chided the former “Apprentice” host for failing to welcome the new year by not fully committing to Ethereum.
Others joked that Trump might not be getting out of cryptocurrencies, but rather switching from Ethereum to rival network Solana.
Trump has not publicly commented on the reasons for the recent surge in cryptocurrency selling. However, he claimed at a recent campaign rally: I owe over $100 million The legal costs are high, considering he is currently implicated as a defendant in four separate criminal charges.
Edited by Ryan Ozawa.
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