PANews reported on February 3rd that according to Jinshi, three blockchain analysis companies estimated that the entity behind US President Trump's cryptocurrency earned nearly $100 million in transaction fees in less than two weeks, which was a huge windfall, but thousands of small traders suffered losses. Trump launched a token called "TRUMP" on January 17 and it quickly soared. Three crypto data companies, including Merkle Science and Chainalysis, analyzed the blockchain to show all transactions involving "TRUMP". They estimated that as of January 30, the "TRUMP" token had generated $86 million to $100 million in transaction fees. This is far more than previously reported. One of the entities behind this cryptocurrency is a company owned by Trump called CIC Digital. The official website of "TRUMP" stated that CIC Digital will "receive trading income from the trading activities of this meme coin." At the same time, about 200,000 crypto wallets (most of which are small assets) suffered losses on the exchange due to the "TRUMP" coin.
About 200,000 Crypto Wallets Suffer Losses on Exchanges Due to “TRUMP” Coin
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