Following President Trump's inauguration, his meme coin, $Trump, generated significant hype, leading to massive losses for many investors. Over 810,000 wallets collectively lost more than $2 billion after the coin's value plummeted. Meanwhile, about 700,000 managed gains totaling $6.6 billion, with 31 early investors pocketing approximately $699 million. Despite some profits, the majority suffered losses. The Trump family reportedly earned nearly $100 million from trading fees, highlighting concerns about the transparency and integrity of such ventures, especially amidst potential deregulation of the cryptocurrency industry under Trump's influence.
More than 810,000 wallets lost over $2 billion when the price of the $Trump meme coin crashed, while some early investors reaped major profits.
Collectively, less than 700,000 investors cashed out with a profit, largely due to a small number of early investors taking most gains from trading.
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