Sun Yuchen's $20 Million Crypto Incident
As Trump's private plane cut through the Washington night sky, Sun Yuchen's $1.43 million TRUMP coin entry ticket had already turned into waste paper. This $20 million political gamble ultimately resulted in just a 5-minute perfunctory speech from the president and an awkward photo.
On-chain data shows that Sun Yuchen invested $75 million into the Trump family's crypto project, with 75% of the profits going directly to the campaign treasury. This "tokenized political donation" caused the TRUMP coin to plummet from $80 to $14, while early speculators had already liquidated $120 million through smart contracts, leaving 764,000 retail investors to bear a $1 billion evaporation.
The most dangerous signal in the crypto world became apparent at this moment: when the president turns political influence into tradable tokens, the transparency of blockchain becomes an accomplice to the harvesting of power. The Trump team cashed out $11.4 million through token pre-sales, while Sun Yuchen's ongoing replenishment caused his losses to exceed $20 million. In the meat grinder of power in Washington, even the most astute crypto traders are merely fuel for the ballot printing machine.
Democratic lawmakers have launched an investigation into crypto donations, and on-chain monitoring shows that Sun Yuchen is accelerating the sale of his remaining TRUMP coins. This expensive lesson reveals the ultimate truth of the crypto market: when the White House starts issuing emoji tokens, real value transfer always happens in darkroom discussions.
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