Donald Trump’s cryptocurrency tokens brought him 15,000% profit

Former US President and current presidential candidate Donald Trump has made a staggering 15,000% profit from the MAGA (TRUMP) meme coin named after him. The information was published by Arkham Intel, a crypto analytical company.

«Donald Trump earned $ 1 million on TRUMP Memecoin. Donald Trump’s holdings in TRUMP have just exceeded $ 1 million. Initially, he received $ 7.1 thousand TRUMP […] This is 150 times more. […] Now that TRUMP is worth $ 1.90, his assets have increased by 15,000%,» experts wrote in their blog on the X platform.

Despite the fact that TRUMP’s price has recently reached $ 1.50, the former president’s assets remain significant, amounting to $ 868,920 for 579,281 TRUMP tokens. The market capitalization of the meme coin peaked at $ 96 million, with a maximum of $ 2.32 per TRUMP, which briefly increased the odious politician’s income.

The TRUMP meme coin with the slogan «Let's make cryptocurrency great again» has a unique tokenization structure that includes a 1% transaction tax and the distribution of part of these funds to US veterans, child trafficking prevention, as well as marketing, development, and liquidity. The official tokenization of the coin includes a supply of 47 million coins.

Trump’s indirect but visible engagement with the crypto community, as evidenced by the NFT issue, hints at a deeper connection with the industry. The Trump NFT team 's recent move to the Bitcoin network via Ordinals and the successful cashing out of Ethereum assets mark a «nuanced, albeit significant, involvement in the crypto space,» Arkham Intel notes.

At the time of writing, TRUMP was trading at $ 1.54.

Earlier in an interview with Fox Business, the politician called digital assets «a scam and an extremely dangerous thing.» «I've never been attracted to cryptocurrency because I like the dollar. I’ve never been a big fan of it,» Trump said at the time. However, in August, it became known that Donald Trump had invested more than $ 2.8 million in cryptocurrencies. The former US president also earned $ 4.87 million in license fees from his NFT Trump Digital Trading Cards collection.

Interestingly, in his campaign speech this year, Trump called central bank-owned cryptocurrencies a threat to human freedom. «As your president, I will never allow the creation of a central bank digital currency. Such a currency would give the federal government absolute control over your money. This could be a dangerous threat to the freedom of every person, and I will not allow this to happen in America,» the politician said.