Blockchain intelligence firm Arkham Intelligence has revealed that it is now actively tracking the wallet it believes belongs to former President Donald Trump to gather more information.
In a series of Twitter threads on Wednesday, Arkham claimed that Trump is the owner of a cryptocurrency wallet that is collecting millions in royalty payments from non-fungible tokens (NFTs).
“Trump’s Financial Statement from August 14th 2023 quotes a cryptocurrency balance of $2,806,341,” Arkham posted on Twitter. “This is almost identical to the present balance of the largest royalty fee wallet associated with the [Trump] NFT project.”
Earlier this month, Trump confirmed that he owned a crypto wallet that held up to $5 million worth of Ether he had earned from NFT licensing fees.
According to certified 2023 financial disclosures, Trump received an income of $2.8 million from the sale of his NFTs, which was deposited into the wallet.
Additionally, the disclosures show that Trump earned $4.9 million from an NFT licensing deal with NFT INT LLC, the company responsible for two significant NFT drops that gained substantial attention over the past year.
These figures are notably higher than the previously reported amount of $500,000.
As reported, the former president released its collection of NFTs, dubbed “Trump Cards,” in December last year.
The NFT collection features a series of digital “cards” depicting Trump in various iconic poses and situations, which include Trump as a muscle-bound wrestling champion, Trump holding a basketball, and even Trump in space.
According to data from OpenSea, the series of NFTs has generated over $26 million in trading volume.
Trump launched his second series of Trump Trading Cards in August this year, which also sold out immediately after release.
The second collection featured 47,000 tokens, each with a price tag of $99, this time with limited one-of-one NFTs and autographed cards.
Speculation surrounding the ownership of the NFT projects has been rampant since its initial release.
On the official Trump Trading Cards website, it says that CIC Digital LLC allowed NFT INT LLC, the company behind the NFT project, to use Trump’s likeness, name, and image under a paid licensing agreement.
The project’s website also claims that funds raised from the NFTs won’t be used for Donald Trump’s presidential campaign.
In an April filing, Trump revealed that he has raked in up to $1 million from the sales of his digital trading cards.
The filing was part of his personal financial disclosure with the Federal Election Commission, which also showed that the American politician earned millions from speaking engagements.
According to the filing, Trump holds the position of “manager, president, secretary and treasurer” at CIC Digital LLC and CIC Ventures LLC.