Editor's PiCK
Just a Day After Meme Coin Launch... "Trump's Wealth Increased Fivefold"
Summary
- Arkham Intelligence reported that Trump's wealth increased fivefold after the launch of the meme coin TRUMP.
- TRUMP recorded a market capitalization of $7 billion and its trading price surged 280.8% in two days.
- It was revealed that CIC Digital and FightFightFight, the issuers of TRUMP, hold 80% of the supply.
It has been analyzed that Donald Trump's wealth has nearly quintupled following the launch of the meme coin Official Trump (TRUMP).
Blockchain analysis firm Arkham Intelligence announced on the 19th via X that "Trump's net worth increased by $22 billion overnight, reaching $28 billion." Arkham Intelligence added, "This assumes that CIC Digital and FightFightFight hold 80% of the TRUMP supply, and Trump holds shares in these companies." CIC Digital and FightFightFight are the issuers of TRUMP. CIC Digital is a non-fungible token (NFT) company of the Trump family.
Arkham Intelligence analyzed that Trump's net worth increased about fivefold after the launch of TRUMP. Arkham Intelligence stated, "The value of (Trump's owned) shares is about $22.4 billion," and "If Forbes' estimate of Trump's net worth ($5.6 billion) is correct, his net worth has increased fivefold due to meme coin shares."
TRUMP, which was launched on the 17th (local time), recorded a market capitalization of $7 billion in just one day. As of 11:08 AM on this day, TRUMP is trading at $24.7 on CoinMarketCap, up 280.8% from the previous day.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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