US cryptocurrency president Donald Trump, the official Trump (Trump) Memecoin, has developed multimillion-dollars for crypto exchanges, in addition to revenues for its creators.
Launched just six months agoThe Trump Memecoin formed at least $ 172 million in trading fees for 10 crypto exchanges, including Binance, Coinbase, OKX and more, According to In a Reuters report on Monday.
In listing Trump, some exchanges have been reported ignoring the fact that 80% of coin supply was performed by the Trump family And its partners, an issue they have previously seen as a red flag for exchanges because of its pure supply.
While 45 crypto wallets made nearly $ 1.2 billion in revenue from Trump Trades, most of the 712,777 had together lost at least $ 4.3 billion, according to the report.
Trump is listed faster than peers
Among other findings, Reuters highlights a significant difference between the time periods taken by exchanges to list Trump against other memecoins such as Pepe (Pepe), Bonk (Bonk) and dogwifhat (Wif).
The full list of reviewed Centralized Crypto exchange (CEX) Includes binance, gate.io, bitget, mexc, okx, coinbase, bybit, upbit, crypto.com and htx.
“Usually, the 10 exchanges take 129 days to list the coins. For Trump, they take an average of four,” the report said. Crypto exchanged Bitget, Coinbase and Mexc that they quickly moved to respond to “excessive demand” for Trump’s coin.
Coinbase decided in just one day
While most of the exchanges took about four days to list Trump, Coinbase reportedly reported his mind just one day.
“Due to information shared with the public, we are confident that users can engage in the token positive and safe,” the head of legal official Paul Grewal is mentioned as saying.
He also said Coinbase listed Memecoin as a “experimental” token in a step to indicate that it had “some risks, including price swings.”
Although Coinbase quickly moved for a list of Trump, the exchange forced to hinder memecoin trading from some US residents.
Related: CZ shares rumors that link Coinbase to Bloomberg’s Trump Stablecoin report
Coinbase reported New York residents from accessing Trump due to potential risks related to a warning from the New York State Department of Financial Services (NYDFS) Issued On January 16, one day before the launch of Trump.
Defining memecoins as “sentiment-based virtual,” specifically highlighted risks, consumer losses, trading washing, pump-and-dump schemes and other forms of market manipulation.
Some of the reviewed exchanges, including Mexc and Bitget, have also been recognized that they have ignored previous concerns about Trump’s supply concentration in an effort to deliver demand.
“The eight percent held by the team, even though there is a little lock-up period, I think it’s dangerous,” Bitget CEO said Gracy Chen said. “Ultimately, the amount of user trading, demand (…) exceeds the so -called dangerous factor here,” he said.
The latest CEXS revenue numbers from Trump came a few months after the financial times estimated that the Memecoin operators earn at least $ 314 million From sales and $ 36 million from Solana fees in just three months since it launched.
Magazine: China’s 100k tps blockchain, the eyes of Japan Solana’s Minna Bank: Asia Express
