News - Trump is Memecoin millionaire

By Luc Vesters

Trump is Memecoin millionaire

Ethereum (ETH)
USA

Donald Trump is not only a reality TV star, contractor and the 45th president of the United States: he is also a memecoin investor. This is the result of a survey by the analysis platform Arkham. It was able to create a ETH-address assigned to the 77-year-old. It turned out that he himself holds the largest position in his cryptowallet. Well, not quite: to be precise, it's the memecoin TRUMP, trading code MAGA.

The ex-president owns more than 579,000 tokens. Equivalent value: about 1.1 million US dollars. Trump particularly benefited from his election successes in the states of Iowa and New Hampshire, where he triumphed against his Republican challenger Nikki Haley. MAGA subsequently rose from USD 0.38 to USD 1.98 in the interim. The memecoin is currently trading at USD 1.82.

Exactly how Trump obtained the coins cannot be clarified with certainty. According to Etherscan the Republican's ETH address received the coins between August and October 2023. Most on Aug. 19. The equivalent value of the tokens at that time: about $5,790. In addition to MAGA, Trump also owns Ethereum (ETH: $755,000, WETH: $735,000) and some Polygon ($3,500).

During his presidency, Trump was actually considered a fierce opponent of crypto. It is unclear whether his opinion has since changed. However, the topic is certainly on his agenda. During the primaries the 77-year-old voiced his criticism of a CBDC in the U.S..

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