President Donald Trump might have already inked greater than $800 million in revenue following the launch of his memecoin, in line with 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 challenge’s workforce has despatched $482 million value 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 value of TRUMP that the workforce 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 won’t have offered 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% previously 24 hours however down greater than 36% previously seven days.
Do not Miss a Beat – Subscribe to get electronic mail alerts delivered on to your inbox
Examine Price Action
Comply with us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Day by day Hodl aren’t 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 personal 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 notice that The Day by day Hodl participates in internet online affiliate marketing.
Generated Picture: Midjourney