Trump’s Crypto Caper: Billions Vanish as Meme Coin Crashes

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Ah, the sweet scent of avarice and betrayal! The once-soaring Trump meme coin has crashed, leaving investors with a $2 billion hole in their pockets. The “Official Trump” coin, which once reached dizzying heights of $75 per token, now languishes at a paltry $16.00. Rumor has it that President Donald Trump and his cronies have made off like bandits, while the hapless traders are left to nurse their wounds.

Early Birds Feast on the Carcass

A select few early traders, however, managed to make staggering profits, according to statistics from Nansen and Chainalysis. One anonymous account, for instance, purchased $1.1 million worth of $TRUMP coins just hours before its official launch. After selling those for $50 million, the same wallet continued trading, eventually amassing a mind-boggling $109 million in total gains. Another trader who bought in just two minutes after launch walked away with nearly $3 million. In total, more than 30 early birds raked in a jaw-dropping $670 million in gains within days.

Meanwhile, a much larger group of investors wasn’t so fortunate. Data shows that over 813,000 wallets—likely retail traders and Trump supporters—either sold at a loss or are still holding coins that have lost most of their value. Collectively, these investors are staring at an estimated $2 billion in paper losses.

Done with this $Trump crap.

Sold it all, what a joke!

— Shawn Whitson (@ShawnWhitson) January 31, 2025

It’s gonna go to 5$

— Professor Oak (@My_name_is_L69) February 1, 2025

Trump’s Alleged $100 Million Payday

The New York Times reports that the Trump family and their partners raked in nearly $100 million in trading fees. What’s more, most of that money hasn’t even been cashed out yet. The timing of the coin’s launch—just three days before Trump took office—raises eyebrows, especially given his influence over cryptocurrency regulations.

Critics argue that this presents a clear conflict of interest, while supporters see it as just another Trump-branded business venture. The Trump campaign hasn’t commented on the allegations of insider trading, but political and financial analysts alike are scrutinizing the implications. Figures like SkyBridge founder Anthony Scaramucci and crypto investigator Stephen Findeisen (Coffeezilla) have already slammed the project as a textbook “pump-and-dump” scheme.

Supporters Left Empty-Handed

Many of Trump’s own followers were among the biggest losers in the $TRUMP token’s downfall. One example is Shawn Whitson, a small business owner from North Carolina. On Inauguration Day, he posted enthusiastically about both Trump’s return to the White House and his investment in the coin. Weeks later, his tune changed. “Done with this $TRUMP crap,” he wrote, calling the entire project a joke.

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2025-02-10 12:43