A major cryptocurrency owner lost a record $ 14 million on investments in meme coins

Editor’s note: not financial advice!

An anonymous investor has made a large-scale transaction on the crypto market, investing $ 6.26 million in the ONDO token of the Ondo Finance platform. Prior to that, he sold his assets in the PEPE memecoin and BEAM token, suffering a total loss of more than $ 14 million.

According to Spot On Chain, the trader sold 531.7 billion PEPE for $ 4.1 million in the DAI stablecoin, holding the asset for three months. During this time, the token lost 63% of its value. He received another $ 2.13 million from the sale of 261.6 million BEAM, recording a loss of 77% of the initial investment.

For the first time, the investor included ONDO in his portfolio, making it the dominant asset. At the time of the transaction, its total balance was $ 10.18 million. Interestingly, Ondo Finance is engaged in the tokenization of real-world assets (RWAs), such as US government bonds and other securities, which makes it a promising project in the DeFi field.

Experts also drew attention to the fact that ONDO is part of the portfolio of World Liberty Financial, a project associated with Donald Trump’s family. This coincided with the former US president’s recent statement about the creation of a national crypto reserve that will include Bitcoin, Ethereum, Solana, XRP, Cardano, and «other valuable cryptocurrencies.»

Another important factor for Ondo Finance was the involvement of former U.S. Congressman Patrick McHenry, known for his initiatives to regulate stablecoins and the cryptocurrency market in the United States, in the management team. The company has also recently integrated its services into Mastercard’s Multi-Token Network blockchain platform.

This large-scale bet on ONDO may indicate a growing interest in the tokenized asset sector, which is becoming increasingly important in the world of finance and blockchain.