US EditionTrump’s meme coin business racks up fees as buyers jump at the chance for access to the president
- The Trump family introduced a meme coin in the early part of this year, which has earned over $320 million in fees and grants purchasers opportunities to engage with the former president at special events.
- This venture builds on the trend of meme coins as mostly joke cryptocurrencies, with trading and value surging after Trump announced a May 22nd dinner for coin holders.
- The top 220 holders of the meme coin qualify for the dinner at Trump's Washington-area golf club, while the top 25 receive access to a reception to meet Trump beforehand.
- Chainalysis reported that the creators of the coin earned more than $1.3 million from trading activity during the week following the announcement of the dinner, while the coin’s price increased from roughly $9 to $14.
- Critics allege that this crypto effort mixes personal profit with politics and could allow bad actors to influence the president through digital asset purchases, while Trump rejects that he profits from his presidency.
117 Articles
117 Articles
The Times of Northwest Indiana
Trump’s meme coin racks up fees as buyers jump at the chance for access to the president
President Trump on Monday promoted a dinner he’s set to attend later this month that’s open to almost anyone who buys enough of his meme coin.
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Trump meme coin's creators have already made $320 million in fees as clock ticks toward presidential dinner with top holders
In the crypto world, meme coins are mostly just jokes with no intrinsic value. But the Trump family is parlaying the president’s meme coin into two valuable commodities: serious cash and access to the president. Since the coin was launched earlier this year, it has generated more than $320 million in fees for its creators, according to the blockchain analysis firm Chainalysis. And on Monday, Trump promoted a dinner he’s set to attend on May 22 t…
Trump's mime coin business rakes in cash as buyers rush to dine with the president
In the crypto-currency world, "mime coins" (English: memes - an idea, behavior or style that spreads through imitation from person to person) are mostly just jokes with no intrinsic value, but the family of US President Donald Trump turns his "mime coin" into two values: serious money and access to the president.
Trump’s Meme Coin Business Racks up Fees as Buyers Jump at the Chance for Access to the President
In the crypto world, meme coins are mostly just jokes with no intrinsic value. But the Trump family is parlaying the president’s meme coin into two valuable commodities: serious cash and access to the president. Join our WhatsApp group Subscribe to our Daily Roundup Email Since the coin was launched earlier this year, it has […]
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