Trump Merme’s creators have already won $ 320 million in taxes, as the clock brands towards the presidential dinner with the best headlines

In the crypt world, meme coins are mainly jokes without intrinsic value. But the Trump family speaks the president’s currency in two valuable goods: cash and access to the President.

Since the currency was launched earlier this year, it has generated more than $ 320 million in rates for its creators, according to the Blockchain Chainaleysis analysis. And on Monday, TrumppromotedA dinner will attend May 22, which is open to almost anyone buying coins enough.

According to the rules of the competition, the 220 Mermen currency holders will reach the dinner at the Golf Club of the Trump Washington area. The first 25 headlines will also attend a reception where you can rub your shoulders with Trump before.

“Let the President know how many Trump $ coins $ you have!” The meme coin told hisWebsitePromote dinner.

The commercial activity in the Merme Currency jumped after the dinner was announced for the first time and the price also increased. But tubes do not need to sell coins to make money.

As Trump earns money outside the currency meme

Decentralization is essential in cryptocurrency. Bitcoin, the world’s most popular crypt, was born as a result of the 2008 financial crisis as a digital currency intended to be uncontrolled by banks or governments.

Trump Meme coins can be marketed in a decentralized exchange, which is essentially a place where merchants can change goods without an intermediary.

Instead of combining buyers and sellers one by one, decentralized exchanges use something called liquidity pool to ensure that operations can easily and instantly. Liquidity pools are essentially an automated background pot that combine memes coins like $ Trump with most popular types of crypto that can be easily marketed.

When the Trump Meme coin was launched for the first time, its creators initially launched 20% of the planned total coins. Half of this 20% was put on public sale, while the other half was put in a liquidity group. CIC Digital, a subsidiary of the Trump organization and another company, receive “commercial revenue arising from the negotiation activities” of the Trump Meme coins, according to their website.

Through the liquidity pool, the creators of the Trump coins make money by collecting small fees in each trade.

“You are not really interested in what is happening at the price. You are only interested in continuous volume,” said Nicolai Søndercaard, a research analyst for the Blockchain Nansen Analytics Analytics. “Because the more volume there, this means more operations and, therefore, more rates for you.”

Because cryptocurrency chains are public, it is possible to keep track of the amount of negotiation rates paid. Chainaleysis said that Trump Meme coins creators reached more than $ 1.3 million in negotiation rates the week after dinner was announced. The value of the currency meme jumped from $ 9 to about $ 14 just after the announcement. On Monday afternoon, about $ 11 was traded.

Trump reduces profits

Launched just before taking office, Trump’s currency has become one of the most prominent ways that the president of the rule has mixed politics and his personal finances.

The remaining 80% of the Trump coins, which are still under a blockade, have been assigned to CIC Digital and another company. AEthics agreementIt prohibits Trump the “day -to -day” decision -making in the Trump organization when he is president and limits the financial information about the business that can be shared with him.

During an interview with NBC’s “Meet the Press” over the weekend, Trump said he did not follow the price changes in his meme currency and rejected the idea that he benefited from the presidency. He also rejected a suggestion that would give up the benefits of his Crypt efforts.

“I should contribute to all my real estate I have had for many years if it increases a little because I am president and do a good job? I don’t think so,” said Trump.

Strong promotion

The team behind the Trump coins has tried to aggressively promote the opportunity to eat with the president.

“Good news! President Trump allows a person more attending dinner with Trump,”he saidLast week, encouraging people to answer with memes with Trump. “Our $ Trump favorite memes will show President Trump and we will choose a person who comes to dinner on May 22!”

Creators have also tried to increase the previous one by offering $ 100,000 Trump themewatchesTo the first four headlines of the Trump coins.

Unknown guests

On Monday night, Trump hosted a “Crypto & Ai Innovators” fundraising funds for his Maga Inc. Super Pac at his Golf Club outside Washington. An invitation to the online circular event indicates the guests to pay $ 1.5 million per person to attend. The White House did not provide a list of attendees, although the Super PAC will finally have to list donors in their usual public publications.

However, if the audience will ever know who bought the dinner of the meme coin with the president. Unlike political donations to be reported publicly, there is no dissemination requirement for meme coins buyers.

Critics of Trump’s foray into the Memes coins, which includes various Democrats, say that the pseudonymous nature of the cryptocurrency offers bad actors the opportunity to try to improperly influence the President by purchasing his digital assets.

The Trump Merme CoIN website assures those registered in the competition that their full legal name and contact information will never be publicly displayed. “

Instead, registrants choose a username displayed on the websiteClassification table.The ranking depends not only on how many Trump Meme coins has someone, but also how long.

After no. 220, the Council has a note of mood for those that just below the cut to buy more of the memes coins.

“You’re so close. Fight against the fight for your $ Trump dinner.”

This story originally presented to Fortune.com

Source link