President Donald Trump may have already inked greater than $800 million in revenue following the launch of his memecoin, in keeping with Coinbase director Conor Grogan.
The Official Trump (TRUMP) memecoin launched in mid-January just a few days earlier than Trump’s presidential inauguration.
It’s already the Fortieth-largest crypto asset by market cap.
Grogan notes on the social media platform X that the venture’s crew has despatched $482 million price of the stablecoin USDC, Solana (SOL) and TRUMP to exchanges. He additionally says they maintain $240 million of USDC in out-of-range liquidity and $50 million in vary, they usually’ve made $29.3 million in USDC charges.
The Coinbase director additionally says he’s not together with the $16 billion price of TRUMP that the crew nonetheless holds.
“This $800 million+ liquidity occasion dwarfs even the Bored Ape Otherside launch ($285 million raised +$181 million in burned gasoline). And I’m not even together with the Melania meme launch…
Caveats: they won’t have bought the entire crypto they despatched to exchanges, however I’m additionally being fairly conservative in different areas (eg not counting Trump LP meteora charges or wallets I’m much less certain of).”
TRUMP is buying and selling at $19.28 at time of writing. The controversial memecoin is up greater than 12.5% previously 24 hours however down greater than 36% previously seven days.
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