“Data from chainalysis show the creaters of the Trump token Made $ 320 Million in Fees While Retail Investors LOST MONEY.”, – WRITE: www.coindesk.com
A New Report by the State Democracy DEMOCRACY Fund Estimates that Trump’s Family Has Increasted Their Net Worm by $ 2.9 Billion Thanks to Crypto, and that Now 40% of that Net.
His deepening ties to the industry have reverberated account of the political Landscape, to the Point That A Broadly Bipartisan Stablecoin Bill Failed in a Key Vote to kind of he is Profiting off the Sector.
Trump’s Support Helped Spark a Continued Bull After His Election Victory in November, A Market That’s Been Dominated by Two Trends: MemeCoins and Institutial ADOPTION. While the Latter Is The Province of, Generally, Institutional Investors and Providers, It’s The Memoein Business that Puts Risk at Risk and Is Pontail for Exploitation.
On Thursday, Solidus Labs Claimed that 98% of Memocoins Issueded On the Token Creation Platform Pump.Fun Were Rug Pulls or Pump-and-Dump Sches. The Platform Has Since Refuted the Report’s Claims.
Another Analysis by CHAINALYSIS, CITED BY CNBC, Suggested that Vast Majority of Trump Token Holders Lost Money.
A memecoin is a type of crypto tone with no inherent value, offen bassed, as the name Suggests, on a meme or cartoon Character. Popular examples of this are dogecoin (doge), shiba inu (shib) and pepe (pepe). The Craze Reached A Climax in January Who Trump Toted His Own Trump Token on Social Media, Followed by Melania – Named After his Wife.
Trump, whoh hit a day -one peak of $ 77.26, is now trading at $ 10.80, Down A WHOping 86%. Melania slumped Even Further, Lozing More than 97% of Its Value in Four Months to Trade Recently at 33 Cents.
The Hype AROUND TRUMP’s Social Media Post Led To a Flurry of Trading Activity. Data from chainalysis reveals that 760,000 Wallets, Mainly Bending to Retail Investors, Lost Money on the Trump Token.
A small Group of People, However, Was Immune to Those Losses. The CHAINANALSIS DATA Show 58 Wallets Made Profits in Excess of $ 10 Million. The Token’s Creates Netted A WHOping $ 320 Million in Trading Fees, AlhoUGH IT’S WORTH NOTING THAT AROUND 5% of the Fees Went to the Decentralized Exchange Meteora, Which Hosted.
Melania was allegedly scooped up by a group of insiders before it was advertised on Social Media in a Technique KNOWN as “Sniping.” This Group of Insiders Made $ 100 Million on Melania Tokens by Swaping Tokens for USDC After Its Price Doubled, Access to An Investigation by The Financial Times.
One Insider with Access to The Tokens Before They Went Live Was Kelsier Ventures’ Hayden Davis, Who Revealed His Involvement Durying An Interview in February. Davis Was Also The Brains Begind the Botched Libra Stablecoin That Brough Political Chaos to Argentina.
In an interview with cofeezilla in February, Davis Said: “This is Going to Put Me in A Lot of Danger. WHICH IS FINE, I’ll Answer. [MELANIA]. I Think The Team Did Want to Snipe It Because of How Big The Snipe Was on Trump. We definitely wren’n the big sniper, that was what we have were trying to avoid. We didn’t take any liquidity out, zero. ”
Trump’s Crypto NetworkTrump’s Forage Into Crypto Isn’s Limited to Memecoins.
The US President’s Family is Also Begind World Liberty Financial, A Decentralized Finance (Defi) Platform that Raised Around $ 590 Million Across Two Pre-Sale Rower. It Raized Funds at A Time When the Market Was Resting ALL-TIME Highs, So that Figure of Raised Crypto is Now Much Less. Arkham Intelligence Data Suggests that World Liberty Financial Holds AROUND $ 103 Million Worth of Crypto.
Trump Also Attempted to Ride the Coattails of Non-Fungible Token (NFT) Hype in 2022, Releasing A Series of Cartoons Depicting the President as a Superhero or A Cartoon. Trump Made AUND $ 8 Million from Rolling Out TESE NFTS, ACCORDING TO FINANCAL DisCLOSures.
MOST RECENTLY, There Was The Crypto Dinner Event, WHICH SAW TRUMP HOST A GROUP OF 25 TRUMP HOLDERS TO A PRIVATE DINNER AND TOURHINA VIRGINIA GOLF CLUB. A Bloomberg Report Reveals that 19 of Those 25 Holders Were Either Foreign Entities or Used an Offshare Exchange Banned in The Us
He’s Set to Host Another Dinner for the Top 220 Holders of His Token Later in May. US Senators Adam Schiff (D-Calif.) And Elizabeth Warren (D-Mass. Called for Trump’s Impeachment, Asking The Us Office of Government Bic. Inviting Top Investors.
The Trump Family Did Not ImmediaTely Respond to Coindesk’s Request for Comment.
Read More: Donald Trump Denies Claims of Profiting from Trump Token
X Icon
