200,000 Traders Suffer Losses on Trump’s Meme Coin as Fees Near $100M
Column
February 3, 2025 8:26 PM
In Brief:
TRUMP token traders lost millions, with 200,000 addresses in the red.
The token has generated up to $100M in transaction fees.
Trump’s company, CIC Digital, benefits from trading activity.
Blockchain analytics firms, including Merkle Science and Chainalysis, report that Trump’s meme coin (TRUMP) has amassed $86M–$100M in fees since launching on January 17. Meanwhile, thousands of retail investors have suffered losses as trading intensified.CIC Digital, a Trump-affiliated company, directly profits from TRUMP’s trading fees, as stated on the project’s official website.
Disclaimer: Backdoor provides informational content only, it is not offered or intended to be used as legal, tax, investment, financial, or other advice. Investments in digital assets involve risk, and past performance does not guarantee future results. We recommend conducting your own research before making any investment decisions.
What's more
.png){kind=small}
© Backdoor 2024