President Donald Trump's cryptocurrency $TRUMPhas been called a "conflict of interest,Watch Fast And Furious Online" a "constitutional crisis," and blatant "corruption."
However, for 58 cryptocurrency wallets, Trump's memecoin has been quite profitable, according to CNBC.
This week, CNBC shared data from blockchain analytics firm Chainalysis, which states that 58 cryptocurrency wallets have made more than $10 million from investing in the $TRUMP coin. In total, these wallets have made $1.1 billion in gains. At the same time, hundreds of thousands of crypto wallets have lost money on the Trump memecoin.
It should be noted that this does not necessarily mean that 58 people have made millions off of Trump's cryptocurrency, as one individual can hold multiple crypto wallets. It's unclear who holds these crypto wallets.
A recent analysis from Bloombergfound that 19 of the top 25 $TRUMP memcoin holders who registered on the $TRUMP website leaderboard have their holdings in foreign exchanges that prohibit U.S. customers. Of the top 220 $TRUMP holders on the leaderboard, 76 percent of them used similar foreign exchanges.
Earlier this year, a reportfound that Trump and his companies had already made around $100 million from $TRUMP off of trading fees alone. Now, Axios puts that number at $320 million.
Of course, not everyone is making money off of $TRUMP.
The Chainalysis report found that 764,000 out of around 2 million crypto wallets that have held the memeocoin lost money on $TRUMP. A report from The New York Timesin February found that $TRUMP holders had lost around $2 billiontotal at the time.
Trump and his companies, which control most of the $TRUMP supply, launched their memecoin the Friday before his presidential inauguration in January. $TRUMP quickly skyrocketed overnight and reached highs of more than $70 the next day. However, the value of $TRUMP has plummeted since then. $TRUMP currently sits at around $10.
Last month, in an attempt to seemingly boost the value of the memecoin, Trump announced that the top 200 $TRUMP holders would be invited to a dinner with the president. Around $100 million $TRUMP tokens were bought on crypto exchanges following the dinner announcement, according to The Washington Post. As a result, Trump's crypto companies further profitedoff of the subsequent boost in trading fees due to the surge of activity.
Mashable reached out to Chainalysis to confirm the accuracy of the $TRUMP report; we'll update this story if we hear back.
Topics Cryptocurrency Donald Trump
Previous：The Well-Upholstered Nightmare
The French Inquisition
SpaceX's Starlink internet is now available in 32 countries
SpaceX's Starlink internet is now available in 32 countries
That Time I Went to the Russian Cat Circus
Like, Subscribe, Invest
“February: Pemaquid Point”—A Poem by Ira Sadoff
Best camera deals October Prime Day: GoPro Instax, and more
The Strange, Working Romance of Fritz Lang and Thea von Harbou
Checkmate
The Strange, Working Romance of Fritz Lang and Thea von Harbou
Trouble Every Day
A New Book from Beatrix Potter
NYT's The Mini crossword answers for October 11
Best Prime Day Kindle deal: $80 off Kindle Scribe
That’s so Craven
Three Paintings and Two Sculptures by Izumi Kato
Best Prime Day Kindle Oasis deal: $50 off Kindle Oasis
Wildlife photographer of the year 2023 captures the variety of nature
Stop the Squeal
Ukraine President Zelenskyy awards medal to beloved mine
Lady Gaga shares track list for 'Joanne'Ed Sheeran pig statue a thing, brings home the bacon for charity auctionSnapchat is just 'Snap' nowHillary Clinton's new ad highlights Trump's misogynistic momentsSick of police violence, black woman gets millions of views painting herself whitePolice arrest creepy clown found lurking in Kentucky woods17 cats that are definitely plotting your deathUber drivers will verify their identities through selfiesSick of police violence, black woman gets millions of views painting herself whiteEd Sheeran pig statue a thing, brings home the bacon for charity auctionCharlotte protesters 'hate white people,' claims congressmanBlac Chyna is selling a tSamsung says half of faulty Note7 phones have been exchanged in the U.S.Pippa Middleton's iCloud account hacked, with thousands of private photos stolenPlane evacuates upon landing at Australia's Perth airportMichelle Obama gives George W. Bush the bear hug we all needJake Gyllenhaal, Carey Mulligan to star in Paul Dano's directorial debut 'Wildlife'Luna Lovegood reveals her Patronus on Twitter, and she's not happyColin Kaepernick kneels alongside protesting high school football teamMichelle Obama gives George W. Bush the bear hug we all need Boaty McBoatface is on its first mission and we really wish it well This baby face generator app is the stuff of terrible, terrible nightmares We're doomed (for a day): Paralyzing blizzard set to slam Philly, New York and Boston This March Madness team has a 'good luck charm' that will melt your heart An intense cold snap turned this waterfront home into a striking ice castle J.K. Rowling predicted second Scottish independence referendum like, one minute after Brexit Here's your first look at Telltale's 'Guardians of the Galaxy' game Patricia Arquette just took her fight for equal pay up a notch You could pick up a move or two from this amazing kid dancing to Ed Sheeran Facebook tests a big change that for once isn't a Snapchat ripoff Congressman who made racist tweet doubles down on CNN GIPHY introduces new GIPHY Stickers app and API Vibrator company will delete the personal data it snooped from you Here's every color the Samsung Galaxy S8 might come in, according to a new leak 'Cries From Syria' is a grisly crash 'Hamilton' gets a second national tour because we deserve something nice The author of that heartbreaking dating profile for her husband has died VICE is bringing a dating show starring Action Bronson to Snapchat Airbnb continues to push Trips into more Asian countries Intel and TAG Heuer team up to make new modular connected watches
2.1663s , 8216.3515625 kb
Copyright © 2025 Powered by 【Watch Fast And Furious Online】,Miracle Information Network