According to blockchain analytics firm Chainalysis, 58 wallets have each profited over $10 million from President Donald Trump‘s $TRUMP meme coin, totaling approximately $1.1 billion in gains. In contrast, roughly 764,000 wallets — mostly small investors — have lost money.
Launched in January ahead of Trump’s second inauguration, the coin experienced a meteoric rise to a $15 billion valuation before falling sharply. Chainalysis reports that insiders, including Fight Fight Fight LLC. and CIC Digital LLC., control most of the token’s supply. Only 20% of $TRUMP tokens are in circulation, with the rest locked under a three-year vesting schedule.
The top 220 token holders have been invited to a high-profile dinner with Trump on May 22 at his Washington, D.C. golf club. The event includes a White House tour and reception for the top 25 wallets.
The coin has drawn regulatory and ethical scrutiny, with the Senate launching an investigation into ties between the token and Trump’s financial interests. Lawmakers are questioning whether $TRUMP and related ventures — such as World Liberty Financial — pose conflicts of interest.
Since January, over $324 million in trading fees have gone to wallets tied to the project’s creators, thanks to a built-in transaction fee mechanism.
Source(s):
Discover more from News Facts Network
Subscribe to get the latest posts sent to your email.
