Donald Trump, the former president of the United States, appears to be spending a significant sum of Ether (ETH) that he received from the sale of his NFTs, as his linked wallet has sent 1,075 ETH to Coinbase since December 8.

Through the sale of his NFT collections, which famously featured his iconic photograph from his August surrender to Georgia police, Trump was able to create Ethereum. According to a report by the blockchain intelligence platform Arkham, the wallet associated with President Trump has completed more than 13 transactions, transferring 1,075 ETH to Coinbase. These trades have a combined value of almost $2.4 million.

Batch processing was used for transactions, and the most common withdrawal amounts were 100, 125, and 200 ETH. Before the recent selling frenzy started, Trump’s ETH balance had been steadily increasing since October, reaching a height of $4 million.

Trump’s Political Plans and Crypto Stance

Notably, Trump has traditionally taken a negative view of cryptocurrency. He called cryptocurrencies “fake” and “a disaster waiting to happen” in August of 2021. He defended the US dollar at the time, saying it was essential to the nation’s economic prosperity.

Trump seems to be actively involved in the cryptocurrency field despite his prior misgivings about them. He took advantage of NFTs’ success and turned his money into Ethereum. It is critical to acknowledge how celebrities and political people are becoming involved in the NFT and cryptocurrency markets.

In addition, Trump is preparing for the 2024 presidential contest; however, his campaign took a blow recently when the Colorado Supreme Court struck him off the state’s ticket. Trump’s engagement in the cryptocurrency market adds an interesting layer to the relationship between politics and digital assets as he maneuvers through the political environment.