Trump Memecoin Investors Face Massive Losses as Value Craters

The $TRUMP cryptocurrency, launched before Donald Trump's second inauguration, has collapsed in value while benefiting early investors and spurring over 700 copycat coins.

• The $TRUMP memecoin, launched in January, saw its value plummet from $78 to $17, leaving most investors at a significant loss.
• Analysis reveals that 21 early investors, or 'whales,' profited heavily, collectively earning $214 million within the first two days of trading.
• Trading platforms hosting the coin reportedly earned around $100 million in transaction fees, with one platform linked to Trump himself.
• Over 700 copycat coins, many named after Trump and his family, have been sent to the official $TRUMP wallet in attempts to imply endorsement.
• Experts warn that Trump's involvement in cryptocurrency has fueled speculation, scams, and increased risks for ordinary investors.

3 Articles

Futurism The Guardian Sherwood News