PANews reported on May 7 that according to Bloomberg, more than half of the largest holders of Trump Meme coin use foreign exchanges that claim to ban US users, suggesting that many buyers are located outside the United States. Among the top 25 holders on the official website ranking, all but six use foreign exchanges; at least 56% of the top 220 holders use offshore exchanges. This phenomenon echoes the concerns of congressional Democrats about the morality of promoting the currency, and also raises questions about the review of participants in the promotion dinner.
Bloomberg analyzed the transactions of the top 220 wallets on May 5 and the self-hosted wallets that qualified for the top 220 on April 30, and found that many large holders were not registered and more than half of the largest buyers used foreign exchange transactions. Some US buyers may use foreign exchanges to ignore the ban through VPNs, etc. Most exchanges have taken measures to prevent such behavior.
Over the past few days, the top entities have been swapping positions, with a wallet called "MeCo" associated with the "Memecore" entity, which claims to want to challenge the notion of stagnation in the meme coin space. Analysis shows that there is currently a Meme coin holder on the list with the username "Sun" and a wallet associated with HTX, which is associated with Justin Sun, who has publicly admitted to buying other tokens, but as of now, he has not responded to whether he is the owner of the wallet at the top of the Memecoin list.
