Trump’s Crypto Venture Earns $350 Million Within 18 Days Of Memecoin Launch: ‘It’s A Terrible Example,’ Says Expert
U.S. President Donald Trump’s cryptocurrency project has reportedly amassed a whopping $350 million from the sale of his memecoin.
What Happened: The entities managing the project have accumulated this sum from $TRUMP (CRYPTO: TRUMP) sales in the three weeks following its January launch, as per a report by the Financial Times. The memecoin, a token devoid of practical application, was introduced by Trump and his wife Melania shortly before his White House return, inciting a strong backlash.
The FT determined the earnings by tracking the movement of tokens from their creation into official wallets and their eventual listing for sale on trading platforms within the Solana (CRYPTO: SOL) blockchain. Trump-related accounts pulled $350 million from the primary liquidity pool within 18 days of its …
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