Team Behind TRUMP Coin Sits on Over $800 Million Profit

The meme coin marketplace was introduced with 2 caller meme coins precocious that person been perpetually making headlines. A mates of days earlier Donald Trump was sworn successful arsenic the President, the Trump Organization rolled retired the TRUMP coin. While respective aboriginal investors snagged large profits from the asset, the President himself made rather immoderate money. Latest reports uncover that the squad down the task has been sitting connected important profits.

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TRUMP Coin’s Growth

Source: Bitcoinist

It looks similar TRUMP’s cryptocurrency wasn’t exempted from the latest clang successful the market. The meme coin started astatine a debased of $6.24 and went connected to surge to a precocious of $75.35. This marks a staggering 188% surge. But sadly this uptick was stopped by the caller marketplace crash. TRUMP coin witnessed a driblet of 15.45% implicit the past 24 hours. At the clip of writing, the meme coin was priced astatine $17.87.

Source: CoinMarketCap

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The President’s Profits

According to a caller station connected X, the Trump squad whitethorn person made astir $802 cardinal since the motorboat of the meme coin. It should beryllium noted that this includes moving implicit $482 cardinal worthy of USDC, SOL, and TRUMP to exchanges. In addition, it excludes the astir $16 cardinal successful TRUMP and MELANIN tokens that the squad owns.

Trump whitethorn person made $802m+ since launching his memecoin

-Team has sent $482M+ of USDC, SOL, and TRUMP to exchanges
-$240M of USDC is held successful out-of-range liquidity + $50M in-range
-They person made $29.3M+ successful USDC fees

Does not see $16B of TRUMP the squad inactive holds pic.twitter.com/mxujlEmxj0

It is worthy noting that Trump’s coin has travel nether scrutiny by the nationalist for galore reasons. Trump Organization owns 80% of the meme coin. Investors were acrophobic astir the firm’s bulk ownership. If the institution chooses to abruptly merchantability its coin holdings astatine the investors’ expense. Speaking astir the same, Leonard Kostovetsky, subordinate prof of concern astatine Baruch College’s Zicklin School of Business stated,

“In presumption of investors, of course, there’s a immense reddish flag. All of these meme coins don’t truly person immoderate worth beyond conscionable what different radical are consenting to wage for them. They’re axenic bubbles.”

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