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Donald Trump’s crypto wallet under Arkham Intelligence’s purview

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Blockchain intelligence firm Arkham Intelligence is tracking a crypto wallet reportedly belonging to former U.S. President Donald Trump.

Donald Trump's alleged crypto under Arkham Intelligence's purview

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  • Earlier this week, the 2024 White House contender was discovered to have $2.79 million in a crypto wallet.
  • Trump released two NFT collections in the past, both of which have been sold out.

On 16 August, blockchain intelligence firm Arkham Intelligence tweeted that it was tracking the crypto wallet which reportedly belongs to former U.S. President Donald Trump.

The wallet held a total of $2.79 million in Ethereum [ETH] at press time.

Early this week, it was discovered that Trump held up to $500,000 in an Ethereum wallet, as per an April filing with the U.S. Office of Government Ethics.

Trump was later discovered to have $2.79 million in a crypto wallet, according to official documents received by the Citizens for Responsibility and Ethics in Washington. He also made $4.9 million in licensing fees with NFT INT LLC from his NFT collection.

The amount mentioned above is the same as the one deposited in the wallet Arkham is referring to.

The former president released his first NFT collection, called “Trump Cards,” in December 2022. He released his second NFT collection in April 2023. Both of these NFT collections were completely sold out.

How crypto figures in the 2024 U.S. Presidential elections

Trump is the leading Republican contender for the 2024 U.S. Presidential elections. Other Presidential hopefuls are also expressing their opinions on cryptocurrency as it becomes a topic of contention among politicians in the U.S.

Democratic candidate Robert F. Kennedy Jr. vowed to back the USD with Bitcoin [BTC] and exempt the token from capital gains taxes if he is elected President. In July, CNBC revealed that he owned up to $250,000 in BTC tokens. Earlier, he had claimed that he did not own BTC.

Another Republican candidate, Ronald DeSantis, has vowed to put a ban on central bank digital currencies (CBDCs) if elected.

Donald Trump stirs crypto market

The market reacted to the news of Trump holding crypto with a lot of excitement in the last 24 hours. The number of social interactions related to Trump’s ETH holdings triggered up to 5.6 million interactions per hour, as per LunarCrush.

However, the news of Trump facing indictment is making more buzz than him holding crypto.

On 16 August, Fortune reported that Trump has been indicted on a total of 91 federal and state charges. All of these charges entail a potential prison time of around 717.5 years. Any such action would put a stop to his race to join the White House again.

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Saman Waris works as a News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins. A graduate in history, Saman worked the sports beat before diving into crypto. Prior to joining AMBCrypto 2 years ago, Saman was a News Editor at Sportskeeda. This was preceded by her stint as Editor-in-Chief at EssentiallySports.
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