Arkham Intelligence, a blockchain data firm on Wednesday said that former President Donald Trump is the owner of a cryptocurrency wallet that collects millions of dollars in royalty payments from Non-Fungible Tokens (NFTs).
What Happened: The blockchain intelligence took to X (formerly Twitter) to share their discovery, referencing Trump’s financial statement from Monday, which mentioned a cryptocurrency balance of $2.8 million.
Arkham Intelligence further revealed Trump's wallet address 0x94845333028B1204Fbe14E1278Fd4Adde46B22ce on the Ethereum blockchain, with a total stash of $2.8 million in Ethereum ETH/USD. In addition to ETH, Trump also holds smaller amounts in wETH, MATIC, and USDC stablecoin, based on Arkham’s profile.
See More: A Stay At The Floating Palace From James Bond's ‘Octopussy’
Why It Matters: Data from Opensea, a popular NFT marketplace, reveals that Trump’s NFT collection has experienced a 14% increase in floor price, surging to 0.11 ETH in the past 24 hours.
Earlier reports indicated that Trump had disclosed the ownership of a crypto wallet holding up to $5 million worth of ETH. Additional financial disclosures, publicly available online, revealed that Trump had received $2.8 million in income that was deposited into the wallet. These disclosures also included earnings of $4.9 million from an NFT licensing deal with NFT INT LLC, the company responsible for two influential NFT drops in the past year.
Price Action: At the time of writing, ETH was trading at $1,789, down 0.89% over the past 24 hours, according to Benzinga Pro.
Join Benzinga’s Future of Digital Assets in NYC on Nov. 14, 2023, to stay updated on trends like AI, regulations, SEC actions & institutional adoption in the crypto space. Secure early bird discounted tickets now!
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
