BTC PULSE
No Result
View All Result
Play Now
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Blockchain

Trump Hypes Crashing Meme Coin, Hedge Funders Cry ‘Havoc’

by Abimbola Adu
Feb 2, 2025 - 9:43 pm
in Blockchain
Donald Trump-themed $TRUMP memecoin displayed on a digital chart, symbolizing regulatory controversy

Trump’s Meme Coin Falls After Shooting Star Performance

The Official Trump meme coin reached an all-time high of $75.35 on Jan. 19, 2025, only two days since the launch. The increase has coincided with the second term of U.S. President Donald Trump. The hype, however, was short-lived. On Feb. 1, TRUMP changes hands for only $19.38—a full 74% decline from the peak.

The full market capitalization of the coin, despite the collapse, stands at about US$2 billion. However, the tokens are supposedly 80% held by Trump Organization affiliates.

Scaramucci Calls Out ‘Pump and Dump’

SkyBridge Capital founder Anthony Scaramucci, once an ally but now a sharp critic of the former president Trump, rebuked the President for inflating the value of the coin.

“President Trump posted on Truth Social last night in an attempt to ‘pump’ his $TRUMP memecoin (yes, that’s a real sentence that many have normalized),” Scaramucci wrote on X. “The result has been an acceleration of the ‘dump’, now down 70% from its peak. The jig is up”.

Via his company Trump Media & Technology Group, Trump has repeatedly used the platform, Truth Social, to hawk digital assets such as NFTs and DeFi projects.

Alarm Sounded

Financial Times reported that a leaked memo from New York-based hedge fund Elliott Management warned that Trump’s endorsement of these digital currencies risks a speculative frenzy that will “wreak havoc” on financial markets.

Ironically enough, Elliott’s founder, Paul Singer, has very close ties with Trump’s political machine. Having been earlier skeptical of crypto this year, Singer donated $56 million to conservative candidates in 2024, including $5 million to the “Make America Great Again” PAC.

Crypto, Politics and Wall Street

Since Trump’s re-election, Bitcoin has soared past $100,000, bolstered by his pledge to make America “the Bitcoin superpower of the world.” He wasted no time in issuing an executive order intended to strengthen a national crypto stockpile.

Yet Elliott’s memo wonders why the U.S. would promote dollar alternatives when other nations are actively working to move away from it.

Meanwhile, Trump’s crypto foray rages on with new products everything from MAGA-themed sneakers to a meme coin tied to the former First Lady Melania Trump. Whether his meme coin will recover or be sent to the dustbin of history remains to be seen.

Tags: DeFiNFTRegulationUS
Abimbola Adu

Abimbola Adu

Abimbola Adu is a crypto content writer with a background in English studies. She is keen on enlightening others about cryptocurrency and blockchains. She enjoys writing poems and spending time with family.

Related Posts

Exterior view of the Czech National Bank building in Prague, symbolizing the institution’s financial strategies and innovation.

Bank of England Governor Says Stablecoins Could Reduce Reliance on Banks

October 1, 2025

Andrew Bailey says stablecoins could reduce UK reliance on commercial banks by separating money from credit, signaling a...

blockchain

Spacecoin Executes First Blockchain Transaction Through Space

October 1, 2025

Spacecoin has achieved the first-ever blockchain transaction through space using a nanosatellite, marking a milestone for decentralization and...

The headquarters of the Autorité des Marchés Financiers (AMF) Investor in Paris, France, the regulatory body warning investors against ByBit.

French Officials Pressured Telegram to Censor Moldova Election Posts: Durov

September 28, 2025

Pavel Durov revealed French intelligence pressured Telegram to censor Moldova election content in 2024, which he refused, citing...

Wall Street financial district with Bitcoin symbol representing institutional adoption

Bitcoin skepticism fades as nations gear up for adoption, says Samson Mow

September 28, 2025

Samson Mow predicts nation-states will move from skepticism to rapid Bitcoin adoption, fueling global FOMO and a rush...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • About Us
  • Advertise
  • BTC-PULSE
  • Contact Us
  • Events
  • Privacy Policy
  • Sitemap
  • Terms of Service