The former President of the United States of America transferred part of his ether reserves to the Coinbase cryptocurrency exchange. From Arkham Intelligence data it follows that the ex-president could transfer crypto assets for subsequent sale.

Donald Trump began transferring ether to Coinbase about three weeks ago. For months, these ETHs have been accumulating as royalties for previously launched collections of non-fungible tokens (NFTs). In December, Trump unveiled a new collection of NFTs called Mugshot Edition, commemorating his arrest and trial. Late last year, Trump issued 45,000 tokens based on the Polygon network.

Donald Trump’s maximum balance in cryptocurrencies was $4 million. Judging by the deposits, the ex-president has already sold 1075 ETH for $2.4 million, noted Arkham Intelligence. It is understood that the ethers were sold at an average rate of $2,232 per coin. Based on this price, it is difficult to determine the amount of profit that Trump received from the sold ethers, since the prices at which royalties were paid remained undocumented.

Deposits were transferred to Coinbase from different addresses. The former president used different addresses for all of his NFT collections. According to Arkham, the largest deposit Trump made to Coinbase was 200 ETH (about $446,511). Ether sales may not be directly related to Trump's new political campaign. Considering that the ETH rate jumped by more than 17% over the month, Trump has formed a sufficient position to sell assets and take profits.

In August, the US Office of Government Ethics (CREW) reported that Donald Trump invested $2.8 million in cryptocurrencies, although it was previously reported that he holds between $250,000 and $500,000 in crypto assets.