Former president Donald Trump just divested more than half of his crypto holdings. However, he still holds over $2 million in Ethereum (ETH) and meme coins.
According to Arkham Intelligence, Trump started selling off a significant amount of his Ethereum haul to Coinbase three weeks ago. Just before the weekend, he sent 1,075 ETH to the crypto exchange in the tune of $2.4 million.
The recent move of the former president comes hot on the heels of his much-hyped mugshot non-fungible token (NFT) collection. However, the analytics firm claimed that the politician who is now staging a comeback in the 2024 US presidential elections still holds $2.2 million worth of cryptocurrencies in his wallet.
Based on data, Trump still holds $1.4 million ETH. He also possesses $649,000 WETH, $167,000 MAGA, $340 PEPE, and $145 JESUS altcoins.
Donald Trump Mugshot Edition NFT
As its name says, Trump’s “Mugshot Edition” NFT features his mugshots when he went into a Georgia courthouse on August 24, 2023, for his fourth criminal indictment. This was a landmark event because it was the first time for a former president to have his mugshot taken.
It was a successful attempt from Trump’s PR team to capitalize on the historic moment by spinning a positive narrative out of it. They integrated the subject into pop culture by releasing new shirts and posters to help his next presidential bid.
The highlight of these was the wave of NFTs painting the 45th US president’s legal battle as a patriotic affair. The official website of these digital assets referred to them as “the most historically significant artifact in American history.”
The collection included 47 cards crafted by artist Clark Mitchell, depicting Trump in various themes such as him being Captain America, a revolutionary, and more. The cards were offered for $99 each or $4,653 as a set, which included physical trading cards signed by the former president, a piece of the blue suit and red tie he wore when the mugshot was taken, and a special dinner at Mar-a-Lago. The fabric that came with the NFT was authenticated by MEARS.
The mugshot NFTs were immediately sold out hours after their launch according to Trump’s announcement via his Truth Social channel.
Developments in Donald Trump’s Courtroom Drama
Trump is currently embroiled in a legal controversy stemming from Maine Secretary of State Shenna Bellow’s move to block his name from the state’s presidential primary ballot next year. It follows an earlier ruling laid down by the Colorado Supreme Court. The US Supreme Court is scheduled to arbitrate on the matter in the coming weeks.
The calls to exclude Trump in the primaries are widely opposed by both Republicans and Democrats alike though. One of the arguments raised was that Trump hasn’t been found guilty yet of his alleged criminal offenses, so he should still be allowed on the roster of candidates. Likewise, the opposition is questioning the constitutionality of the verdicts against the former US president.