A Financial Times analysis shows that traders who won banquet tickets with Donald Trump may have purified millions of dollars in profits by buying a large number of presidential souvenirs.
The contest was announced on April 23 to serve dinner for people at $trump Memecoin held on a window designated in the publicly visible crypto wallet. When announced, the match raised the price of the token from $9.26 to $15.33.
When the windows closed on May 12, many traders began to move the tokens out of their wallets, although the competition website urged “lifting up big.”
UK Foot has been confirmed that 16 of the 25 winning “VIP” accounts were seats won at “a memorable dinner with the president”, as well as “exclusive receptions” for “with your favorite president” and VIP tours, now there are no Trump coins, not in their public wallets. The event will be held on May 22.
Trump has made cryptocurrency a major part of his second presidency, aiming to relax digital asset rules and boost growth in the industry. His family is also involved in a wide range of cryptocurrencies.
Trump's token has no purpose other than becoming a tool of speculation. The account owner is not clear, although everyone gives their wallet a short nickname on the coin website.
Of the 25 VIPs, only 22 began to accumulate Trump after 22 announced the game. Of these, five sold time means they may profit from participating in the competition. FT estimates suggest that these gains may range from $52,000 for an account called "NACH" to $2.6 million that could be earned by "Woo."
It is impossible to prove that all revenue and transfers from the wallet are the prices sold or possible for sale. However, the Bank of England (FT) estimates that the market cost of assembling and selling these portfolios is estimated by assuming transactions involving wallets are transferred from them at market prices.
The account, known as "Woo," put 1MN $TRUMP tokens into the first few days of the game, when they were worth $100.8 million. Then, when they are worth $13.3 million, it disposes it, allowing potential profits of $2.6 million.
By contrast, an account called "gant" which also only had its wallet full during the game and then dispose of the shares after that, probably had spent about $1 million to win its own day.
Before the contest was released, three of the first 25 accounts were Trump holders. One "Ogle" has the potential to make $4 million by trading Trump $4MN, but its victory comes before the dinner was announced.
Another named "Sun" was named "Sun", which received a mark of about 1MN before the game started. This includes a purchase of 800,000 coins, which costs $61.13, which is much higher than the current $12.96. At current prices, the account owner could lose $66 million.
However, as the largest holder of Trump coins during the game, Sun's owner will be one of four contestants entitled to the free watch.
In the cryptocurrency community, there is widespread speculation that the Sun account is linked to Chinese cryptocurrency investor Justin Sun, who also put $75 million into World Liberty Financial, an unrelated Trump family cryptocurrency company. In addition to the account name that connects Sun to the account, the wallet is tied to HTX, where he serves as an advisor.
Sun refused to confirm with FT whether it was his account.
In addition to the 25 VIP winners, 195 people won the right to attend the "dinner". FT analysis shows that 56 of the winners have cleared their submitted wallets as their entrants.
The Trump Organization did not respond to a request for comment.