Trump posted it, his wife posted it, and both the political and cryptocurrency circles were stunned

Source: Wall Street News

To make money, you still have to look at the Trump family?

According to the Global Times, on January 18, just two days before Trump actually entered the White House, he launched his personal MeMe coin "Trump Coin".

The token became popular as soon as it was launched. According to CoinGecko data, "Trump Coin" started trading at an opening price of $0.1824, and rose by more than 15,000% to about $30 in 12 hours. Since its launch, it has risen to a high of $75.35 (a cumulative increase of more than 41,200%), and its fully diluted market value (FDV) is close to $80 billion.

With the popularity of "Trump Coin", Trump's wife Melania also took the opportunity to launch her own cryptocurrency - Melania Coin.On the 20th, Melania announced on the social media X that "Melania's official emoji package is online" and attached a purchase link.

Traders quickly rushed in, pushing the price of "Melania Coin" above $5, and the market value of FDV exceeded $5 billion. Similar to "Trump Coin", "Melania Coin" is also a MeMe coin based on the Solana blockchain, and its value depends on the attention and participation of the community.

Not only the Trump couple, but the Trump family is busy issuing coins. Autism Capital said that the Trump family is really like "Game of Thrones":

Trump launched his own NFTs.
His son Barron tried to launch his own shitcoin with Shkreli, but was left aside.
Trump's other sons Don Jr and Eric were busy launching World Liberty Fi and tried to exclude Barron.
Trump launched a Pump fun token while everyone was at CryptoBall.

Melania fought back while he was busy with his victory rally and launched her own coin.
"It's really a game of digital currency."

Netizens teased the Trump family for issuing coins

The Trump family's coin issuance has had a huge impact on the entire cryptocurrency market, including internal impacts within the family. After the launch of "Melania Coin", Trump Coin plummeted 60% in 30 minutes, Solana fell 20%, and Bitcoin fell 6%.

1.The Trump family, the biggest beneficiary of Trump Coin

It is reported that the Trump family holds 80% of the total supply of Trump Coin through its company. Once launched, Trump Coin quickly became the world's 24th most valuable cryptocurrency, with a market value of over $80 billion at one point, making the Trump family the biggest beneficiary of this round of surge.

This also means that if the Trump family sells off in any way, countless investors will lose all their money.

Nic Carter, founding partner of cryptocurrency investment firm Castle Island Ventures, bluntly criticized the move as "ridiculous" and warned that if investors suffered losses as a result, it would have a negative impact on Trump himself and the entire cryptocurrency industry.

Although Trump promised before his first term that he would "not make new deals" during his term, his eldest son Donald Trump Jr. and second son Eric Trump have begun to dabble in the cryptocurrency field and established their own company World Liberty Financial.

However, according to the analysis of blockchain analysis company Arkham, the Trump family did not sell $500 million worth of Trump coins, but held a liquidity pool of about $500 million in Trump coins on the blockchain.

The Trump family withdrew $20 million in USDC (a stablecoin) from the liquidity pool and sent $92 million worth of Trump coins to the exchange. Currently, there are about $370 million in USDC in the liquidity pool, which means that the Trump family still holds most of the funds in the liquidity pool.

2. Using the presidential status to make money?

In addition, the Trump family's move has also raised questions about whether they are using the upcoming presidency to serve their own business interests.

Anthony Scaramucci, founder of Skybridge Capital, believes that the Trumps' behavior is extremely detrimental to the cryptocurrency industry, calling it "self-deception" and suggesting that deeper corruption may be involved behind it.

Nick Tomaino, founder of 1confirmation, criticized that this is predatory and many people may be hurt by it. Trump should airdrop to the people instead of using this to make himself or his team rich.

Ben Meiselas, co-founder of Meidas Touch, believes that Trump should focus on more pressing matters instead of focusing on launching Meme coins.

Qiao Wang, co-founder of AllianceDAO, believes that Trump can announce that the token will be used for some kind of fiscal policy, such as buying Greenland, aiding Los Angeles, or upgrading public projects such as the power grid. If this path is chosen, cryptocurrencies will be given a more positive meaning, seen as the greatest capital formation mechanism ever, and their use will be widely recognized as a move that benefits society, thus ushering in a golden age of cryptocurrencies. However, if Trump chooses to do nothing and simply uses tokens to continue to accumulate wealth for himself, then this behavior will be considered a crime.