Hundreds of thousands of investors who invested in the $TRUMP memecoin launched by US President Donald Trump have lost about $2 billion in a few weeks, while the creators of this cryptocurrency earned about $100 million.
According to its data, more than 813 thousand crypto wallet owners have lost a total of $2 billion in 19 days since the memcoin was launched in mid-January.
At the peak of its popularity, its price reached $75. At the same time, an analysis by Chainalysis and MerkleScience showed that the creators of the coin, including The Trump Organization, received about $100 million in trading fees. The publication notes that although the official website of the memcoin contains a warning that the purchase of the coin is primarily intended to be an expression of support for Trump, and not part of an investment strategy, some traders still tried to “make big money on it.”
On January 18, Trump announced the launch of his own cryptocurrency $TRUMP. The memcoin trading volume exceeded $11 billion in a day. Then Trump's wife Melania announced the launch of her own coin, $MELANIA. Bloomberg expressed the opinion that the launch of tokens by Trump and his wife is causing reputational damage to the crypto industry.