Trump wallet sells memecoins right before Iran strike
The Trump coin is once again in the spotlight.
The Trump coin is once again in the spotlight. From View post on Xfrom the blockchain-analysis group Lookonchain shows that on the evening of June 21, more than 3.5 million Trump tokens were sold through the official wallet of the coin's team just hours before President Trump announced military strikes against Iran.
The tokens were traded on Binance and generated about $33 million in proceeds. Shortly after the attack, the crypto market tanked, with heavy selling waves as a result. The Trump coin also took a hit: the price fell 6 percent.
Whether the sale was tied to insider knowledge of the attack is still unclear. According to Lookonchain, this isn’t the first time large amounts of TRUMP tokens have been sold from the same wallet. Since late April, more than 12 million tokens worth over $150 million have reportedly been sent to exchanges.
On X (formerly Twitter), there's plenty of speculation about possible insider behavior. Not for the first time, rumors are surfacing that certain people involved are using their strategic edge to make big money.
Donald Trump himself is indirectly involved in the project through a complex web of companies. The memecoin is issued by Fight Fight Fight LLC – a company owned by business partner and confidant Bill Zanker.
The Trump coin is under heavy scrutiny. Since its peak at $73 in January, its value has fallen by a whopping 88% to its current price of $8.60, despite glamour dinners and all.
Yet the crypto dealings around the former president and his family still seem lucrative. This is partly due to their involvement in projects like World Liberty Financial, where other American notable figures are said to have stakes.
