- The TRUMP memecoin brought in $172 million in fees for top crypto exchanges but is now down 78% from its peak.
- Coinbase listed TRUMP within 24 hours, while others ignored red flags due to high demand.
- Just 45 wallets made $1.2B, while over 700,000 others collectively lost $4.3B.
Launched only six months ago, the Official Trump memecoin (TRUMP) has raked in at least $172 million in trading fees for 10 major crypto exchanges, including giants like Binance, Coinbase, OKX, and more. According to a new Reuters report, the coin’s meteoric trading activity also came with some controversy—most notably, the fact that 80% of its supply was reportedly held by the Trump family and close partners. That didn’t stop exchanges from rushing to list the token, bypassing red flags that would normally delay listings.
Fast-Tracked Listings Raised Eyebrows
Exchanges typically take over four months to review and list memecoins like Pepe, Bonk, or WIF. But with TRUMP, the timeline shrank dramatically. All 10 centralized exchanges listed the token in just four days on average. Coinbase took it a step further by listing the token within 24 hours. The firm’s legal officer, Paul Grewal, defended the decision, saying it was based on public information and came with appropriate “experimental” disclaimers. However, due to warnings from the New York State Department of Financial Services, Coinbase had to restrict access to TRUMP for New York residents.
Winners, Losers, and Lopsided Profits
While 45 wallets walked away with a staggering $1.2 billion in profits, the rest of the 712,777 wallets holding TRUMP saw collective losses of at least $4.3 billion. The lopsided outcome reflects the often-volatile and sentiment-driven nature of memecoin trading. Notably, Bitget’s CEO admitted that they disregarded TRUMP’s high supply concentration in favor of meeting user demand. Despite a short lock-up period, the risk of market manipulation was clearly present, yet outweighed by the trading frenzy.
Profits and Fallout
TRUMP is now down 78% from its January all-time high. Even so, the project’s creators reportedly earned at least $314 million from token sales and an additional $36 million in Solana fees. While exchanges and insiders profited massively, retail investors bore the brunt of the losses. As regulators continue to watch closely, the memecoin’s explosive rise and sharp fall serve as a reminder of the risks that come with trading sentiment-fueled assets.
