Meme Coin

Analysis: The cryptocurrency market seems to have become a cash cow for the Trump family

ChainCatcher news, according to Jinshi reports, although the Trump administration's regulation of cryptocurrencies is more inclusive than that of the Biden administration, analysts believe that the crypto space seems to have become a cash cow for the Trump family. The issuance process of meme coins is simple, and if market interest surges, their prices can skyrocket from nearly zero, providing early buyers with the opportunity to make huge profits.Cryptocurrency enthusiasts refer to accounts that make large, early purchases taking advantage of this characteristic as "snipers." According to U.S. financial regulations, meme coins are not considered securities, which means that project initiators are not bound by federal disclosure and insider trading rules designed to protect retail investors.Statistics show that 24 potential "insider" accounts purchased 16.7 million of the 200 million MELANIA tokens scheduled for sale during the issuance period. Following Trump's announcement that large holders would be eligible to attend a White House dinner, the price of TRUMP coins skyrocketed, making the 800 million TRUMP coins still held by project organizers nominally worth $9 billion. Foreign media previously tracked transactions involving TRUMP, showing that the issuer made at least $350 million in profits, which includes both token sales revenue and market-making fees.Blockchain analysis company Chainalysis revealed data indicating that 58 wallets profited over $10 million each from Donald Trump's meme coin, with total profits reaching $1.1 billion. However, 764,000 wallets incurred losses due to TRUMP, most of which were held by small holders.Additionally, a 28-year-old cryptocurrency entrepreneur from Texas, Hayden Davis, stated that he participated in the issuance of MELANIA. He was also involved in the issuance of the LIBRA meme coin, which received a brief endorsement from Argentine President Milei in February, but later turned into a scandal in the crypto space due to its price surge and crash.

TRUMP Meme Coin team refutes rumors of a "300,000 USD dinner participation threshold."

ChainCatcher news, according to Cointelegraph, the Meme coin team of U.S. President Trump has denied rumors circulating on social media that official TRUMP token holders need at least $300,000 to attend an upcoming dinner with Trump.The rumor originated from community members citing information from the Solana blockchain explorer that displayed the token contract address holders. As of the time of writing, the explorer shows that the 220th holder possesses 33,114 TRUMP tokens, valued at over $400,000. However, the Meme coin team stated that the explorer does not reflect their standards.The team wrote in a statement: "People mistakenly took the data of the 220th holder on the blockchain explorer as a qualification line, which is inaccurate. This data includes locked tokens, exchange holdings, market maker holdings, and holdings of users who did not participate in the activity. Actual participation eligibility should be based on the official leaderboard."According to information from the Meme coin official website, the team will select winners based on "time-weighted holdings," a metric that takes into account both the number of tokens held and the duration of holding.Additionally, Trump's Meme coin team clarified that the rumor about "unlocking a large number of tokens" for this competition is also untrue. They stated that currently, user "Sun" is in the lead with 1,176,803 TRUMP (worth about $14 million), while the user in 220th place, "HAR," holds only 35.3 TRUMP (worth about $420).
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