The institutions behind the coin of Donald Trump’s meme have pulled up the trading fees in about $ 100 million in a few weeks, while tens of thousand small investors suffered losses, showing a survey.
The official Trump (Trump) Mem Sikka, supported by President Donald Trump, has earned great money, but obviously not for small investors. Institutions behind meme coins including a company associated with Donald Trump, have raked trading fees up to $ 100 million in less than two weeks, Reuters ReportsCiting estimates by three firms, including Mercale Science and Channelis.
According to him, the trading fee on Trump Mem coin was between $ 86 million and $ 100 million till January 30. A firm calculated a total of $ 100 million till 29 January.
Trump, the company owned by CIC Digital, is among those who are benefited, read the report. Reuters noted that the official website of Meme Sikka states that CIC Digital “would get trading revenue obtained from trading activities, although it is not clear that if any, the fees have gone directly to Trump.
The fee comes from the traders, using a decentralized finance trading platform Metora, where the meme coin was first sold. According to Channelis, at least 50 major investors have created over $ 10 million each. At the same time, around 200,000 purse with small holdings lost money.
In a remarks by Reuters, Eric Trump defended the venture that Trump Mem’s coin “is currently the hottest digital meme on Earth. We are just starting.”
As Crypto.news reported, Trump’s $ 72 billion market cap debut triggled a wave of scams, which flooded the market with 6,800 fake tokens and 91 frauds. According to the blockchain forensic firm Blocked, within just 48 hours of launch, the scammers extended efforts to exploit the promotion, created a 206% spike in tokens using the name “trump” – a 206% spike in tokens – 3,300 to 6,800 – Spotting investors Is difficult. ,
