CoinVoice has learned that, according to Jin10 reports, although the Trump administration's regulation of cryptocurrencies is more inclusive than that of the Biden administration, analysts believe that the crypto space seems to have become a cash cow for the Trump family. The issuance process of meme coins is simple, and if market interest surges, their prices can skyrocket from nearly zero, providing early buyers with the opportunity to earn huge profits.
Cryptocurrency enthusiasts refer to accounts that make large early purchases as 'snipers.' According to U.S. financial regulations, meme coins are not considered securities, which means that project promoters are not bound by federal disclosure and insider trading rules designed to protect retail investors.
Statistics indicate that 24 potential 'insider' accounts purchased 16.7 million of the 200 million MELANIA tokens scheduled for sale during the issuance period. After Trump announced that major holders would be eligible to attend a White House dinner, the price of TRUMP coins soared, making the 800 million TRUMP coins still held by project organizers nominally worth $9 billion. Foreign media previously tracked transactions involving TRUMP, showing that the issuer made at least $350 million in profits, which includes both token sales revenue and market-making fees.
Blockchain analysis company Chainalysis disclosed data showing that 58 wallets profited over $10 million each from President Donald Trump's meme coin, with total profits reaching $1.1 billion. However, 764,000 wallets incurred losses due to TRUMP, most of which are held by small holders.
Additionally, a 28-year-old cryptocurrency entrepreneur from Texas, Hayden Davis, stated that he participated in the issuance of MELANIA and was also involved in the issuance of the LIBRA meme coin, which briefly received endorsement from Argentine President Milei in February, but later became a scandal in the crypto space due to price surges and crashes. [Original link]
