On the eve of taking office as President of the United States, Trump has given the American people and the world a big job. In the last two days before the U.S. Constitution’s emoluments regulations took effect on him, the Trump family made tens of billions of dollars from the currency circle through MEME coins.

"The President of the United States takes the lead in issuing coins." This is definitely an unprecedented event. The degree of exit and wealth creation effect of $TRUMP tokens are also unique. In just one weekend, its daily trading volume on the Binance platform exceeded 10 billion US dollars, even surpassing BTC for a time. From financial institutions on Wall Street to grandparents on the Bund, the world is asking how to get in on the party.

What’s interesting is that this “American MEME coin” with its well-established roots has actually made young currency speculators one of the largest profit-making groups. Since the token was issued at night in the Eastern United States, most U.S. citizens were not able to seize this trading opportunity immediately. According to on-chain data and social media information statistics, half of the more than 100 addresses that have made profits exceeding one million US dollars are from the Chinese community. At the same time, due to legal and regulatory disputes and differences of opinion, Trump's "sexy operation" has also caused serious differences among the encryption community.

Review of coin issuance process

On January 18, incoming US President Trump posted a message on his social account, announcing the launch of his personal Meme coin $TRUMP. Users Enter the official website to get the Meme token. According to the website, TRUMP is the only “official Trump Meme coin.”

gettrumpmemes official website shows that 80% of the supply of TRUMP coins is held by CIC Digital, an affiliate of the Trump Organization, and Fight Fight LLC, an entity jointly owned by CIC . The official website also stated that the initial issuance of TRUMP coins on the first day is 200 million, and the issuance is expected to reach 1 billion within three years, gradually increasing in three years. CIC Digital and its related parties will receive the income generated from TRUMP trading activities. Locked for 3-12 months and unlocked in the next 24 months.

At first, the market still had doubts about the news, speculating that Trump’s account might have been However, a few hours later, the article still existed without refuting the rumor, and the TRUMP currency rose rapidly. Token Issuance 12 hours later, it was trading at around $30, with an FDV of $30 billion. As of 8 p.m. Beijing time on January 19, according to CoinMarketCap data, the price of TRUMP currency has risen to a maximum of 85.2 US dollars within a day and a half after the currency was issued, and the full-circulation market value reached a maximum of 85.2 billion US dollars. Trump's worth has soared. 68.16 billion US dollars (approximately 498.93 billion yuan), which is more than 10 times higher than its value before the currency was issued. On the 19th, Binance, Coinbase, and OKX also announced the launch of TRUMP (OFFICIAL TRUMP) spot trading. Except for Trump and sol used to buy Trump, all other tokens have plummeted. The price of ETH dropped to as low as $3,127, down 12% from the early morning of the 18th. Other meme tokens, AI agent tokens, etc. There were declines of varying magnitudes.

Image source: CoinMarketCap

When $Trump was at its peak and extremely fomo-laden, Trump’s wife Melania also took advantage of the situation and launched her own cryptocurrency MELANIA on the Solana chain. On the 20th, Melania posted on social media saying, "Melania's official Meme is online" and attached a link to purchase.

The Trump family’s follow-up behavior of issuing coins seems to have dealt a heavy blow to the market , except for MELANIA, which rose all the way to a market value of US$120 driven by fomo sentiment, all other coins fell across the board. TRUMP's market value halved from US$76 billion to US$35 billion, and SOL fell directly from US$297 to US$235. USD, Bitcoin fell as much as 6% in a short period of time. The crypto community angrily claimed that the Trump family used cryptocurrency as their own "cash machine", blurring the boundaries between roles and business interests, and blatantly using the president's international influence to benefit themselves. Many media outlets have questioned the Trump family’s currency issuance behavior and opposed and rebuked this money-making behavior.

While flipping, taking over: Asian youths who have suddenly become rich VS American retail investors who pay for their beliefs

Former Global Times Editor-in-Chief Hu Xijin tweeted to comment on Trump Pufa coin name:"Capitalism! It turns out that the presidency can be monetized in this way! Mr. Trump really opened my eyes as a person living in socialism." But perhaps what opened the eyes of this former professional media person even more is that Mr. President's In addition to the "rat warehouse" of secondary issuance coins, it is the traders on the Asian chain who make the most profits.

The picture below is the TRUMP trading trend chart based on Eastern Time. The currency issuance time is 9 pm on Friday, January 17, which is Beijing time. Six ten o'clock in the morning. As can be seen from the chart, the large price gains on January 18 and 19 were all concentrated during the Asian trading session.

New York time TRUMP trading chart

On January 18, one hour after TRUMP issued its currency and its market value had just exceeded US$100 million, the community counted TRUMP’s front-row profit-making addresses and found that 10 Chinese KOLs had profits exceeding US$1 million.

Source: Lianzhi

When the market value of TRUMP rose to US$15 billion, just 4 hours after the currency was issued, Chinese KOL 0xSun announced its own TRUMP PnL on $10 million. One day later, PnL’s last update before 0xSun moved TRUMP to CEX showed that it had made a profit of $27.5 million.

"It's 4 hours, it's also 3 years. It's been living on the chain since the beginning of the circle. , sitting for more than 10 hours a day on average," 0xSun wrote in a tweet. When the market value of TRUMP soared and exceeded US$30 billion, in addition to being surprised and lamenting that they did not get the bottom bargaining chip, some people in the Chinese community were reflecting on why they did not seize this opportunity. Christian, the founder of 0xinfini, gave the answer. He believes that without a certain amount of principal on the Solana chain and all-in at the first time, it is impossible to achieve big results on TRUMP.

In contrast, the performance of American retail investors appears to be more passive. There are far fewer public profit takers in the English community on Trump’s coin issuance, and even the top meme KOL Ansem has left the market with losses.

The address tagged Ansem made the purchase on the morning of January 19th, Beijing time, when the market value of TRUMP had exceeded US$30 billion. At that time, the American encryption trading platform Kraken had just launched TRUMP spot trading. On January 20, around the time Robinhood announced the listing of TRUMP, Ansem added another position to buy TRUMP. On January 21, Ansem cut off and sold all TRUMP, and the total loss was controlled within US$80,000.

American YouTuber voidzilla directly cursed in the video, "This behavior is stupid and fraudulent. It is unprecedented in terms of using the few days before the inauguration of the president to build momentum for a hype project. Such a scam is simply jaw-dropping. There are only two days before the inauguration ceremony, and he should be busy writing his inaugural speech instead of issuing memes. Coin. Using power to carry out such hype at a critical moment in the presidential campaign not only breaks history, but also blatantly tramples on all moral bottom lines. ”

But. Still unable to resist the appeal of the president's brand to retail investors, Moonshot added about 400,000 new users on January 18 alone. Twitter is awash with posts about how to use Moonshot to buy TRUMP, with users even complaining about its complexity. In a discussion about purchasing methods, someone recommended using the Phantom wallet, and another user replied "I just want to save some cash or US dollars, but it has to let me buy SOL, Bitcoin and the like."

As U.S. banks are unable to conduct large-denomination certificates of deposit or fund transfers over the weekend, U.S. investors are further restricted from investing in TRUMP The profits on the market and the lag in capital flows have caused American retail investors to miss the key entry time window and become liquidity providers in the later stages of the currency price rise.

On the one hand, Asian traders resident on the chain discovered the target at the right time and entered the market with heavy positions; on the other hand, the USThe Chinese currency speculation group has compliant Moonshot purchase channels and worships the leader, which makes them ignore early chips and be willing to become the president and the exit liquidity of large investors.

How much money has the Trump family made from the crypto market?

After Trump’s wife Melania released a token of the same name, the price of $Trump also fell from $78 to $35. As the news of RobinHOOD listing $Trump has picked up again, the news in the past few days has cooperated with market making. I have to lament the terror of the capital cabal behind it, quietly using resources to maximize the liquidity of each exit. This is not the first time that the Trump team has made money in the blockchain, but it is the most sensational one. So how much money has the Trump team made in the cryptocurrency field?

Cryptocurrency Donations

As the first president to accept cryptocurrency donations, he has unprecedentedly accepted not only BTC but also mainstream copycats such as ETH and SOL on the official website. Memecoins such as Dogecoin ended up receiving more than $4 million worth of cryptocurrencies, while millions of dollars in traditional investments were received from industry backers in the crypto space.

Making $20 million on NFT is just a small test

December 2022 Trump announced the launch of the first set of Trump-themed NFTs. These trading cards provide Trump with various images, with a total of 45,000 cards priced at $99. Within 24 hours, the NFT sold out, bringing $4.5 million directly to Trump. This also gave Trump, who was not a pro-cryptocurrency faction at the time, a taste of the sweetness. For products of the same type like this, the Trump team has released four series "one of which is a rare special edition" on Polygon, as well as a series on Bitcoin, the sale of nearly 200,000 Trump trading card NFTs, and Royalties generated more than $20 million for the Trump campaign.

The key force behind this series is CIC Digital LLC, the company Trump Founded in 2021 by attorney John Marion and former consultant Nick Luna. The issuer of “Trump Digital Trading Cards” NFT INT LLCIt states on its website that it is an independent entity and that "NFT INT LLC" is not owned, managed or controlled by Donald J. Trump, but purchased Trump's name and likeness from CIC Digital LLC. The NFT series was produced and sold under license. But suspiciously, further investigation of NFT INT LLC revealed that the contact address provided on its official website is located at a UPS store in Park City, Utah, USA. However, the registered address is in Cheyenne, the capital of Wyoming, the "Little Cayman Islands of the United States", about 480 kilometers away from Park City, which means that this company is likely to be one of the ghost companies.

"Trump NFT that increased 10 times in 2 days, was it issued by the former president himself? 》

Looking for DeFi leeks, US$300 million is not enough to fill the gap between teeth

World Liberty Fi is co-sponsored by President Trump, Donald Trump Jr., and Eric Trump, who has emphasized that is not a simple Memecoin is a company committed to providing decentralized top financial and banking tools while strictly following relevant regulations to ensure user safety. What’s interesting is that with the popularity of $Trump Memecoin released by Trump, the 20 billion tokens publicly sold by the Trump family’s DeFi project World Liberty Financial (WLFI) have also been sold out this morning, with a unit price of US$0.015, totaling It raised US$300 million, of which Justin Sun, the boss of the well-known chain Tron, contributed US$30 million alone and announced an additional investment of US$45 million in the name of Tron DAO.

As the original 20% of the public sale quota has been sold out, WLFI has "compassionately" opened an additional 5% of the quota for the community to purchase. , if it is filled again, the on-chain address with a value of 300 million US dollars can add another 75 million US dollars.

It is worth noting that two days before $Trump was released, nearly several The 17,000 Ethereums that had been accumulated at this address every month were suddenly reduced to 1,200."Transfer to Coinbase or other addresses", and after $Trump sucked a large amount of all assets on the chain, and a large number of ETH majors swapped positions for Solana. I started purchasing Ethereum in multiple transactions on the 19th, and my current holdings have exceeded 42,000 Ethereum. I have made a "good swing", which has turned Ethereum's income from loss to profit, and has also allowed Ethereum to exceed the total assets of this address. one third.

The ultimate killer, the unprecedented Crypto large-scale consolidation scene

This should be the picture that you have seen the most in recent days. The President of the United States issued Memecoin, and something that is impossible to happen to Trump can be rationalized. The fact is that the Trump family has worked hard for three generations, and the family wealth has finally accumulated to 4 billion. After the release of Memecoin, the market value reached US$80 billion within two days. More than 100 years of struggle was not worth two days of global carnival. $Trump’s peak FDV of $80 billion, based on 20% of the circulating market value, has an actual market value of $16 billion, but now the actual market value is only $6 billion in market value. However, most of the US$10 billion in liquidity in the middle blood-sucking market has disappeared in the market. Regardless of the new increase in the market that the influence of the US president can bring, a single token brings an average of US$100 billion to US$200 billion to the market. The short-term impact is huge.

The company responsible for the issuance of $Trump this time is a company owned by the Trump family. In addition to The external entity responsible for Trump CIC Digital LLC mentioned above is Fight Fight Fight LLC. These two companies hold 80% of the $Trump token quota. Although the total unlocking time is 3 years, it is divided into six parts. The maximum part of the unlock mode is "40% "Share" can begin to be unlocked in the third month. Although we have no way of knowing how much the inside traders will benefit except for this 80%, from the launch of Coinbase to Robinhood, and Moonshot's announcement that it can be used directly to deposit from Robinhood. , $Trump should use Trump supporters and traditional stock market funds as well as a large number of new leeks to maintain its popularity and market value for a considerable period of time, so if 4% of the chips are unlocked after 3 months

Even if the current market value is half of its current value, it can still obtain billions of dollars in exit liquidity.

The token of Trump's wife, the First Lady of the United States, $MELANIA, is the same as the token issued by Trump and has "nothing to do" with Trump himself. The token is owned by MKT World , LLC Responsible for issuance, and according to the company information searched online, Melania's position in the company is both a member and a manager, and the company address is 3505 SUMMIT BLVD. WEST PALM BEACH, FL 33406. She is in Virginia with Mrs. Trump. Home addresses in Florida are very close.

$MELANIA’s token economic model is not quite the same as $TRUMP. The team share is 35%, the treasury is 20%, the community is 20%, the public offering is 15%, and the liquidity is 10%. The biggest difference lies in the token unlocking rules. The TRUMP team’s share needs to be locked for 3 years, but the MELANIA team only needs to fully lock for 30 days. Starting from the 30th day, 10% of the team share will be unlocked first, and then gradually linearly unlocked in months 2-13 until fully unlocked in the 13th month. This short-term and unclear allocation of chips also caused the market value of tokens to quickly drop from 15 billion US dollars to 3.3 billion US dollars without looking back, almost only 20% of the high point. Such hasty token unlocking rules and the rapid decline in a short period of time The token is really like Dogecoin. One can't help but wonder whether this is just a news tactic to get $Trump to pull back on the market.

No matter what, the Trump team has retained a trace of sanity in making money in the past few days. But Trump’s actions in the past few days have left people stunned. No matter how many disclaimers or legal loopholes he uses, it is an indisputable fact that before taking office as the US president, he must first make Crime Great Again.

The pro-Trump encryption group started scolding, and the "Trump encryption faction" also split?

In fact, not everyone supports Trump’s direct currency issuance. Previously, the Trump team's profit of 20 million US dollars from issuing NFT was relatively "moderate". Many communitiesThe members haven’t reacted yet.

But the nature of today is completely different. In order to circumvent the presidential investment restrictions, on the eve of taking office in "Goose City", the Trumps directly issued coins and locked up positions. And buying at high points early and selling at high points allowed an entire interest group behind him to realize "no capital and huge profits" as quickly as possible.

There can be many people harvesting in the currency circle, but they cannot be the president. Many people have expressed strong concerns about this.

Venture investor Nick Tomaino wrote on the X platform: "Trump holds 80% of Trump coins and has scheduled the issuance before the inauguration ceremony In just a few days, this was undoubtedly an act of predatory behavior, and many people may have been harmed by it.”

Trump briefly served in the White House during his last term. Communications and Liaison Officer (10 years in office) Anthony Scaramucci, a banker who was fired) also criticized on the X platform: "Trump meme coins are harmful to the cryptocurrency industry, and we cannot deceive ourselves."

What is even more embarrassing is the currency circle. Back then we donated money one after another, and we shouted "Fire Gary Gensler", we long for a president who is pro-crypto industry, and we hope that the crypto industry can get more attention and more liquidity.

Is it implemented? Realized. According to community and trading platform staff, a well-known trading platform usually has only a few hundred registered people, and the OTC transaction amount is 700,000 US dollars. However, on January 20, the number of registered people reached 120,000, and the OTC amount also reached 1 billion dollars. The number of new user registrations for a leading trading platform also exceeded millions in three days.

But the way to achieve this is not to use Bitcoin as a strategic reserve in the United States, not to pass a new batch of mainstream currencies through ETFs, not to establish a new encryption bill, but to It was meme coins that sucked up most of the liquidity in the currency circle.

Not considered decent or moral. Many people in the currency circle who once supported Trump have now publicly expressed their opposition.

"What he did is absolutely ridiculous." Nic Carter, a founding partner of the cryptocurrency investment company Castle Island Ventures, once publicly admitted that he is a Sichuan fan, but he still said: "They launched meme coins. Let’s explore how stupid this can be.”

Even Bitcoin Magazine, a pro-Trump crypto media during the election, said on social platforms that TRUMP is a garbage coin. (Shitcoin).

You know, Trump is marketed as "the first Bitcoin president of the United States" ”, Bitcoin Magazine is indispensable. At the official Bitcoin 2024 conference hosted by it, Trump personally took the stage to give a speech and announced the launch of a Bitcoin strategic reserve to ensure that the United States becomes the world’s encryption center and Bitcoin superpower. He also plans to fire the chairman of the U.S. Securities and Exchange Commission (SEC) wait. Trump’s encryption-friendliness all started from this speech.

"In my opinion, this is nothing more than a pump-and-sell self-profit scam, an immoral act, and the investors involved ( I should say "fans") are extremely stupid. ” However, now the writers of Bitcoin Magazine are outspoken in their criticism. Related reading: "Bitcoin Magazine slams $TRUMP: Trump likes cryptocurrency as long as it can be used to make money"

The values ​​of the media are top-down Although David Bailey, CEO of Bitcoin Magazine, was previously a Trump campaign adviser, it is said that he was also the person in the pro-Sichuan encryption group who tried to dissuade Trump from issuing coins.

He has repeatedly clarified on social media that "I have nothing to do with Trump's memecoin, no prior notice, and no financial interests", "My Suggestions and advocacy are beneficial to Bitcoin and.”

As a campaign period Crypto consultant, David Bailey is now positioned more as a lubricant between Trump and the community. Even though he did not agree with Trump’s currency plan, he still tried his best to reassure the community: “I am very grateful for everything Trump has done and will do for Bitcoin and the entire industry.Everything", "Ross's release and a series of other events will be realized", "I will continue to do my best to support the president and his family's acceptance of Bitcoin and provide honest advice when needed"...

This also means that the encryption people around Trump are now ideologically divided into Two factions.

Bitcoin Magazine is one faction, and the other faction standing opposite Bitcoin Magazine is what is commonly known as the "Encryption Committee", and its members are all personally selected by Trump. .

David Sacks, chairman of the Crypto Committee, is best known as one of the founders of PayPal and later made his mark by creating Yammer and selling it to Microsoft for $1.2 billion. Become famous. In the currency circle, David Sacks’ most important identity is an investor in the crypto venture capital company Multicoin and a Solana maximalist.

"One of the stupidest attacks on me this year is that I dumped SOL tokens to retail investors. If that were true, they would have been by now Congratulations to all those who hold SOL. Sacks never sold SOL even when the FTX thunderstorm occurred.

Because $TRUMP is deployed on the solana chain, and when Trump issued $TRUMP coins, David Sacks always paid attention to these "zero-sum meme coins" Remaining silent, many people believe that the chairman of the encryption committee must be involved.

Another piece of evidence is that David Sacks has a "criminal record." In March 2024, David Sacks posted about his own name, the memecoin $Sacks.

Although when people started to buy, he tweeted nine times telling them not to buy, this has solidified the evidence that he "ever issued coins" , which is exactly the same as the method of issuing $TRUMP coins. (According to feedback from community members, David Sacks recently deleted his post about $Sacks.)

This has made many people dislike David Sacks and feel that his methods are too quick and quick. Eager to make profits through this radical approach. Even if Sacks was not directly involved, as chairman of the CryptoCommittee, he is responsible for the incident. There are even rumors that someone proposed that the entire leadership team of David Sacks’ Encryption Committee should be replaced and a new team should be created.

Nearly everyone in the crypto space is vying for a seat on the committee, according to an anonymous Washington cryptocurrency lobbyist. Many crypto giants such as a16z, Coinbase, Paradigm, Ripple, Kraken and Circle are very interested in this and are trying to have a say in US encryption reform.

After all, the ordinary members of this encryption committee are now "hot and popular", and David Sacks's words and deeds as chairman of the committee are even more critical.

This is not the first time that the Trump team has shown instability. During the last presidential term, Trump’s internal team members were divided into different factions. Games and changes are huge, and resignations are commonplace.

In this term, in addition to the fight for seats on the Encryption Committee, the internal risks of the Trump team are also reflected in other aspects.

While not naming anyone, Messari founder Ryan Selkis tweeted an appeal to Trump, suggesting that he fire the people who recommended the $MELANIA project. "The project team lacks professional capabilities, may cause significant economic losses and damage to goodwill, and project decisions do not fully consider Trump's interests." Selkis pointed out the problems with $MELANIA.

Compared with $TRUMP coins, Trump’s wife Melania issued $ MELANIA's release was definitely more sloppy. The front-end code is incomplete, the images are not compressed, the website was only built one day before the project was released, and the legal text is not rigorous. Many netizens speculate that there are many differences between the methods of $MELANIA and $TRUMP. MaybeNot operated by the same team.

"If my source is correct, $TRUMP was promoted by the encryption czar, and $MELANIA was done by the worldliberty team. But what is certain is that, These two coins are not made by the same team. "More than one community member broke the news.

How long does it take to consume trust?

TRUMP came out at the time when Trump was about to take office. It was originally a thing that shocked the world and excited the cryptocurrency circle. We have always been looking forward to cryptocurrency being able to show a more compliant, stable and secure image to more mainstream people around the world. With this desire, $TRUMP carries too many expectations from the cryptocurrency circle - it Coming from the hands of the incoming President of the United States, who can not imagine that this is the beginning of the new United States’ further embrace of cryptocurrency? How much new attention can this beginning attract to cryptocurrency with a historically positive image?

TRUMP comes from Trump, but unfortunately, it does not come from "President of the United States" Trump, but from "businessmen" Trump's hand. "President of the United States" Trump is fully capable of issuing and promoting the development of $TRUMP and even the entire cryptocurrency market with higher ethical standards and better legal compliance standards, but what "Businessman" Trump has shown is Naked greed and disregard for morality have completely used the cryptocurrency market as a cash machine to realize their influence, and they can't wait to issue assets one after another to grab more benefits.

Ultimately, Trump is just talking about the cryptocurrency industry for votes. He has really seriously considered how to better promote this industry. Industry development? What we see is a "big man" who is completely self-centered, has no basic industry rules and ethics in his eyes, and puts himself above the entire encryption market. In Trump's eyes, the cryptocurrency market may be no different from him setting up a stall in front of his house. As long as someone is willing to pay for his influence, he will feel that there is something wrong with his behavior and there is nothing wrong with it. Woolen cloth?

The issuance of coins by Trump’s wife Melania has become a helpless self-mockery in the cryptocurrency circle-Trump and his family are laughing at us for not How silly are realistic expectations.

From the perspective of speculators, this is of course a prosperous era of speculation, and there is no more perfect narrative and sense of pushback than this. But is it really good for the industry?

What Trump will lose is not only the trust of the cryptocurrency community in him, but also the morality and responsibility of an American president.