Donald Trump earns millions thanks to TRUMP crypto coin
Former US President Donald Trump was presented with hundreds of million dollars in fines last week, due to the various lawsuits against him. Thanks to the profits from a TRUMP memecoin, which he received by the developers of the project, he might be able to use the profits to repay a small part of that. The memecoin MAGA (TRUMP) has risen spectacularly in recent weeks.
The wallet of Donald Trump received the TRUMP token when it was trading at just 20 cents. This weekend, it reached $5. Trump’s total crypto portfolio is worth about $5.2 million, according to Arkham Intelligence. The TRUMP coin is his largest holding with a value of $2.79 million.
TRUMP is only available at decentralized exchanges as Uniswap and Orca.
Trump and crypto
Crypto plays a role in the 2024 American presidential elections. On the Democratic side, Senator Elizabeth Warren and Treasury Secretary Janet Yellen are opposed to crypto. On the Republican side we seem to find more people in favor of crypto.
Earlier this week, Donald Trump was asked by Fox host Laura Ingraham whether his opinion of Bitcoin had become more positive over the years.
Donald Trump: “People are embracing #Bitcoin and I can live with it one way or the other.”#Bitcoin is becoming mainstream pic.twitter.com/x4MaRd5j1B
— Quinten | 048.eth (@QuintenFrancois) February 23, 2024
The former US president explained that he still prefers the US dollar but can ‘live with’ Bitcoin by now. Trump used to be very hostile to Bitcoin, but as a lot of his supporters are crypto fans, he has become one too over the years.
He started his own NFT collection in 2022 which sold out within hours.
NGL, I wish I went all in $TRUMP $MAGA at launch… https://t.co/9pYuHu56el pic.twitter.com/WnxAS5r5m2
— rgrpark (@rgr_park) February 24, 2024
By now, the TRUMP memecoin has risen to an all-time high of $5 and the campaign team has made several million dollars in profit (on paper, of course).
As always, be careful with memecoins, they are very volatile.
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