Investors Lost $2 Billion on TRUMP Meme Coin
Date: 2025-02-12 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
According to data from Chainalysis, Nansen and Molly White, which was obtained by the publication, 813,294 token holders ended up in the red.
Companies associated with TRUMP received $100 million in commissions. CIC Digital and Fight Fight, which control about 80% of the issue, withdrew only a small part of the assets into fiat, but the exact amounts are not disclosed.
TRUMP reached its maximum of $75, but by now its price has fallen by 79% and is $15.78. The token's market capitalization is at $3.16 billion, which puts it in 45th place among cryptocurrencies.
Some traders managed to make a profit. Thus, on the first day of trading, one of the investors purchased about 6 million TRUMP at $0.18, and two days later sold the assets, recording a profit of $109 million.
In February, the non-profit organization Public Citizen called on the US Department of Justice and the Office of Government Ethics to conduct an investigation into the possible violation of anti-corruption laws during the launch of TRUMP.
Back in January, the US Congress began studying the ethical side of the president's cryptocurrency initiatives.
TRUMP's decline is in line with the general trend among celebrity-associated meme coins. Messari analysts calculated that, on average, such assets lose about 78% of their historical maximums. The study considered MOTHER, DADDY, TRUMP, MELANIA, and JAILSTOOL.
Earlier, Tuttle Capital Management filed an application with the SEC to register ten crypto ETFs with 2x leverage, including TRUMP and MELANIA. In turn, REX Shares, a division of Osprey Funds, offered a line of investment products based on Ethereum, Solana, XRP, BONK, TRUMP and DOGE.
