President Donald Trump may have already inked greater than $800 million in revenue following the launch of his memecoin, in response to Coinbase director Conor Grogan.
The Official Trump (TRUMP) memecoin launched in mid-January a couple of days earlier than Trump’s presidential inauguration.
It’s already the Fortieth-largest crypto asset by market cap.
Grogan notes on the social media platform X that the undertaking’s staff has despatched $482 million price of the stablecoin USDC, Solana (SOL) and TRUMP to exchanges. He additionally says they maintain $240 million of USDC in out-of-range liquidity and $50 million in vary, they usually’ve made $29.3 million in USDC charges.
The Coinbase director additionally says he’s not together with the $16 billion price of TRUMP that the staff nonetheless holds.
“This $800 million+ liquidity occasion dwarfs even the Bored Ape Otherside launch ($285 million raised +$181 million in burned fuel). And I’m not even together with the Melania meme launch…
Caveats: they may not have bought all the crypto they despatched to exchanges, however I’m additionally being fairly conservative in different areas (eg not counting Trump LP meteora charges or wallets I’m much less positive of).”
TRUMP is buying and selling at $19.28 at time of writing. The controversial memecoin is up greater than 12.5% prior to now 24 hours however down greater than 36% prior to now seven days.
Do not Miss a Beat – Subscribe to get electronic mail alerts delivered on to your inbox
Verify Price Action
Comply with us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Day by day Hodl usually are not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your individual threat, and any losses it’s possible you’ll incur are your accountability. The Day by day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Day by day Hodl an funding advisor. Please observe that The Day by day Hodl participates in affiliate marketing online.
Generated Picture: Midjourney