Improvement (May 9, 11:58 UTC): The right headline, Trump-Family Linked firms said that millions of people said to the Trump token. Descriptions were added to the 11th paragraph about their relations for the creators of tokens and their relationship for business revenue.
US President Donald Trump has come a long way Said The value of Crypto was “thin air based” in 2019. So much so that he is now one of the biggest supporters of the sector, which is included in Memcoins, Defi, NFT and even Stabecrims.
A new report by the state Democracy defenders fund It is estimated that Trump’s family has increased its total assets for Crypto by $ 2.9 billion, and now 40% of that net worth is being conducted in crypto property.
Their deep relations towards the industry are rear -up in the political scenario, for the extent to which the Democrats were earning profits from the region, a widely bipartite Stabecoin bill on Thursday failed.
Trump’s support helped spark a constant bull market after his election victory in November, a market that dominated two trends: institutional adoption of bitcoin through memecoin and ETFs. While the latter, generally, the province of institutional investors and providers, it is a memecoin business that risks retail investors and is potentially mature to exploitation.
On Thursday, Solidus Labs claimed that 98% Memcoins released on the token Creation platform pump. The forum had since denied the claims of the report.
Another analysis by Chenlisis, quoted by CNBCSuggested that the vast majority of Trump token holders lost money.
A Memcoin is a type of crypto token that has no underlying value, often based, as the name suggests, on a meme or cartoon character. Popular examples of this are Dogcoin (Dogi), Shiba Inu (Shib) and Pepe (Pepe). This craze reached an climax in January when Trump postponed his own Trump token on social media, followed by Melania -in his wife’s name.
Trump, who reaches a summit of $ 77.26, is now trading at $ 10.80 below 86%. Melania slipped even further, recently lost more than 97% of its value in four months to trade at 33 cents.
Promotion around Trump’s social media posts led to lack of business activity. data Channelis suggests that 760,000 wallets, mainly belonging to retail investors, lost money on Trump tokens.
However, a small group of people was immune for those losses. Chennnelis data show 58 wallets made a profit of over $ 10 million. The creators of the tokens grossed $ 320 million at the trading fees, although it is worth noting that about 5% fees went into the decentralized exchange Metora, which hosted the launch.
CIC Digital LLC, an affiliated, and fight fight LLC collectively is 80% of the supply of Trump tokens, subject to 3 -year unlocking schedule, official websiteCIC Digital LLC and Celebration Card LLC, owner of Fight Fight Fight LLC, will also receive revenue received from trading activities of tokens, the website said.
Melania was reportedly scooped by a group of internal sources, before it is known as “snipping” on social media. The group of internal sources earned $ 100 million on Melania tokens. Investigation Until Financial Times.
An internal formula with access to the tokens before it was live was Hayden Davis of Callier Ventures, who revealed his participation during an interview in February. Davis was also the brain behind the boat Libra Stabecrim which brought political chaos in Argentina.
In an interview with Coffeezila in February, Davis said: “It is going to put me in a lot of danger. Which is fine, I will answer. I was a part of it (Melania). I think the team wanted to snip it because how big the snip on Trump was.
Trump’s crypto network
Trump’s Forest in Crypto is not limited to Memcoin.
The family of the US President is also behind the World Liberty Financial, a decentralized Finance (DEFI) platform, which raised around $ 590 million in the two pre–sell round earlier this year. It raised funds at a time when the market was resting at a high level of all time, so the figure of crypto raised is now very low. Arkham Intelligence Data It is suggested that the World Liberty Financial has a crypto of about $ 103 million.
Trump also attempted to ride the non-fangbal token (NFT) propaganda coatles in 2022, which releases a series of cartoons painting the President as a superhero or cartoon character. Trump earned about $ 8 million from rolling these NFTs, according to this Financial revelations,
Recently, there was a Crypto dinner event, in which Trump saw a group of 25 trump holders for a private dinner and a visit to his Virginia Golf Club. A Bloomberg Report It is revealed that 19 of those 25 holders were either foreign institutions or used an offshore exchange banned in America.
He is ready to host another dinner for the top 220 holders of his tokens later in May. American Senator Adam Shif (D-Calif) and Elizabeth Warren (D-Mas. Called for impeachment of Trump, asked the office of American Ethics to investigate whether Trump violated the rules of federal ethics by inviting top investors.
The Trump family did not respond to coindesk’s request to comment immediately.
Read more: Donald Trump denied the claims of profiteering from Trump token
