New York Times: Nearly One Million Investors Lose $3.81 Billion in Trump-Themed Tokens
On July 4, the New York Times reported that a recent analysis revealed that by the end of June, nearly one million investors had cumulatively lost about $3.81 billion in investments related to Trump-themed meme coins. Crypto analytics firm Nansen stated that the trading mechanisms of these tokens allowed Trump to profit from both price fluctuations, as his earnings primarily came from transaction fees and ongoing market trading activities. Additionally, the promotion of these tokens on the social platform Truth Social further amplified trading volumes. Data shows that during his 2024 campaign, Trump shifted from being a 'crypto skeptic' to embracing the commercialization of digital assets, co-founding the crypto project World Liberty Financial with his children, which issued the $WLFI token that also experienced significant declines. Furthermore, the TRUMP token launched just days before his inauguration has been described as a 'speculative asset lacking practical use' and has already undergone a noticeable correction.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Nvidia quietly reduces OpenAI data center guarantee from 250 billions to below 120 billions
Nvidia and OpenAI are close to signing a data center financing agreement in Ohio. However, Nvidia's financial guarantee has been reduced from $250 billion to less than $120 billion, covering only about 5 GW of computing power for the project's first phase. This adjustment is a direct response to investor concerns about Nvidia's risk exposure—after the previous $250 billion guarantee plan was revealed, Nvidia's stock price fell 5% in a single day. The agreement could be signed as early as this weekend.
Ivy League’s space gamble: Harvard reveals $2.2 billions SpaceX position, its largest single stock holding
Harvard University Investment Management Company disclosed that it holds $2.2 billion worth of SpaceX shares, making it the largest single stock position in its $4.3 billion US equity portfolio. This holding originated from Harvard’s early investment in SpaceX through venture capital funds, and the position has significantly appreciated after SpaceX’s public listing in June this year. The University of California also disclosed a roughly $1 billion position in SpaceX during the same period. Over the past decade, endowment funds from several universities have made substantial bets on private tech assets.
Crypto prices
More
