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Author: Admin | 2025-04-28
Trump Meme Coin plummets 78% from peak; investors lose over $2 billion USD.Trump Organization and entities behind the coin have reportedly made over $100 million USD ($160 AUD) in trading fees.One trader turns 18-cent tokens into about $110 million USD ( $175 million AUD).Whether you love it or hate it, crypto is the financial Wild West of our time. Bitcoin surged to an all-time high recently, surpassing the $100,000 USD mark, and the entire crypto market reached a value of nearly $3.5 trillion USD. But where there’s hype, there’s always risk.The crypto sphere has also been hit by its fair share of scams, including that of one-time “Crypto King” Sam Bankman-Fried, who is now serving 25 years in prison after defrauding investors of $8 billion USD. But this time, the controversy isn’t coming from some tech-bro or a rogue trader — it’s coming straight from the world’s most powerful man, the president of the US, Donald J. Trump. The Presidential PumpOn January 17, 2024, just three days before his second-term inauguration, Trump’s meme coin, $TRUMP, hit the market which he announced and prompted on X. Unlike Dogecoin (another meme coin), which has its own blockchain, $TRUMP is just another digital asset often created purely for speculation and riding on cultural phenomena.Trump launched the $TRUMP meme coin three days before taking office as president. Image: FxProMeme coins are also notorious for their volatility and short-term nature, often a vehicle for “pump and dumps” in which creators stock up on tokens, gain
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