The president of the United States, Donald Trump, has traveled a long way since he said that the value of the cryptography was “based on thin air” in 2019. So much so that it is now one of the largest proponents in the sector, venturing into Memecoins, Defi, NFT and even Stablecoins.
A new report from the State Democracy Defenders Fund estimates that Trump’s family has increased its net assets by $ 2.9 billion thanks to cryptography, and that now 40% of that net worth is carried out in cryptographic assets.
Their deepest links with the industry have reverberated throughout the political landscape, to the point that a broadly established bipartisan bill failed in a key vote on Thursday after the Democrats expressed concern about the point where they are benefiting from the sector.
Trump’s support helped provoke a continuous upward market after its electoral victory in November, a market that has been dominated by two trends: Memecoins and the institutional adoption of Bitcoin through ETF. Although the latter is the province of, in general, investors and institutional suppliers, it is the memecoin business that puts retail investors and is potentially mature for exploitation.
On Thursday, Solidus Labs said that 98% of memecoras issued on the tokens creation platform. Since then, the platform has refuted the claims of the report.
Another chainysis analysis, cited by CNBC, suggested that the vast majority of Trump tokens owners lost money.
A memecity is a type of cryptographic token without inherent value, often based, as its name indicates, in a meme or cartoon. Popular examples of this are Dogecoin (Doge), Shiba Inu (Shib) and Pepe (Pepe). Madness reached a climax in January when Trump promoted his own Trump card on social networks, followed by Melania, who is named after his wife.
Trump, who reached a day peak of $ 77.26, is now quoted at $ 10.80, for 86%. Melania collapsed even more, losing more than 97% of its value in four months to recently operate 33 cents.
The exaggeration around the publication of Trump’s social networks led to a large amount of commercial activity. Chainysis data reveals that 760,000 wallets, mainly belonging to retail investors, lost money in Trump’s Token.
However, a small group of people was immune to those losses. The chain analysis data shows that 58 wallets obtained profits greater than $ 10 million. The creators of the Token obtained the whopping of $ 320 million in commercial rates, although it is worth noting that about 5% of the rates were for the decentralized meteorite of exchange, which was the host of the launch.
Supposedly, Melania was collected by a group of experts before it was announced on social networks in a technique known as “sniper.” This group of experts won $ 100 million in Melania tokens exchanging tokens for the USDC after its price doubled, according to an investigation by the Financial Times.
A source with access to the chips before it is live, Hayden Davis, by Kelsier Ventures, who revealed his participation during an interview in February. Davis was also the brain behind the failed Libra Stablecoin that brought the political chaos to Argentina.
In an interview with Coffeezilla in February, Davis said: “This will make me very dangerous. Which is fine, I will answer. I was part of that. [MELANIA]. I think the team wanted to shoot it for how the sniper was in Trump. We were definitely not the great sniper, that was what we were trying to avoid. We do not get any liquidity, zero. “
Trump cryptographic network
Trump’s incursion in Crypto is not limited to Memecoins.
The family of the president of the United States is also behind World Liberty Financial, a decentralized finance platform (DEFI) that raised around $ 590 million in two rounds of presale earlier this year. He raised funds at a time when the market rested around the maximums of all time, so that high cryptography figure is now much lower. Arkham’s intelligence data suggest that World Liberty Financial has about $ 103 million in cryptography.
Trump also tried to mount the non -fungible token exaggeration bombs (NFT) in 2022, releasing a series of cartoons that represent the president as a superhero or a cartoon character. Trump won around $ 8 million when implementing these NFT, according to financial revelations.
More recently, there was Crypto’s dinner event, which saw Trump organize a group of 25 Trump headlines to a private dinner and a tour of his Virginia golf club. A Bloomberg report reveals that 19 of those 25 headlines were foreign entities or used an exchange on the high seas forbidden in the United States.
He is ready to organize another dinner for the 220 holders of his Token later in May. American senators Adam Schiff (D-Calif.) And Elizabeth Warren (D-Mass. Asked Trump’s accusation, asking the United States government ethics office to investigate whether Trump violated federal ethics rules inviting the main investors.
The Trump family did not immediately respond to the request for comments from Coindesk.
Read more: Donald Trump denies the claims to benefit from Trump Token
