Trump Entourage’s $2.3 Trillion Memecoins Uncovered
On January 20, 2025, a shocking revelation surfaced in the world of cryptocurrency, implicating U.S. President Donald Trump and his entourage in a massive financial play involving memecoins. The Official Trump (TRUMP) and Melania Meme (MELANIA) tokens launched on Solana barely three days ago, and already, the Trump team seems to have amassed an astonishing $2.3 trillion in paper wealth from these digital assets.
Unveiling the Enormous Holdings
The TRUMP token has skyrocketed to a market capitalization of $8.8 billion, ranking as the 25th largest coin in the crypto ecosystem, closely trailing behind established coins like Polkadot (DOT) and Litecoin (LTC). Similarly, MELANIA has surged to a $945 million market cap, securing its position among the top token projects.
Detailed on-chain data reveals that the TRUMP treasury wallet alone holds a staggering $35.5 billion in TRUMP tokens, along with $17.5 billion in other memecoins linked to Trump family members. The MELANIA token is also heavily concentrated, with 77% of the supply held across three wallets, suggesting a significant ownership stake by the Trump family.
The Potential Implications
Despite the astronomical figures, it’s crucial to note that this wealth largely exists on paper, posing challenges when it comes to liquidation. Selling off such massive holdings could trigger a market collapse due to the substantial selling pressure. Additionally, both the TRUMP and MELANIA projects have vesting schedules in place, restricting the entourage from immediate profit-taking.
Tom Carreras, a seasoned markets reporter for CoinDesk, sheds light on the complexities of this situation. As someone deeply immersed in the crypto world since 2020, Tom’s insights offer a nuanced perspective on the implications of these holdings. With a background in Bitcoin ETFs, mining, and crypto adoption, Tom’s expertise provides valuable context to this unfolding story.
In the midst of this financial whirlwind, one thing remains clear – the Trump entourage’s involvement in the memecoin market has sparked a wave of speculation and intrigue. As the world watches closely, the true extent of their $2.3 trillion holdings and the implications for the broader crypto landscape are yet to fully unfold.