{"id":21881,"date":"2025-02-09T09:00:27","date_gmt":"2025-02-09T10:00:27","guid":{"rendered":"http:\/\/medexperts.pro\/?p=21881"},"modified":"2025-02-09T10:26:35","modified_gmt":"2025-02-09T10:26:35","slug":"early-crypto-traders-had-speedy-profit-on-trump-coin-as-others-suffered-losses","status":"publish","type":"post","link":"https:\/\/medexperts.pro\/?p=21881","title":{"rendered":"Early Crypto Traders Had Speedy Profit on Trump Coin as Others Suffered Losses"},"content":{"rendered":"
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Some traders made tens of millions off a new cryptocurrency launched by President Trump and his sons. Many others lost out.<\/p>\n

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The curious trade<\/a> came a little past 9 p.m. on Jan. 17 \u2014 a $1,096,109 bet less than two minutes after the soon-to-be president of the United States posted on his social media account that his family had issued a cryptocurrency called $Trump.<\/p>\n

In those first minutes, a crypto wallet with a unique identification code beginning 6QSc2Cx secured a giant load of these new tokens \u2014 5,971,750 of them \u2014 at the opening sale price of just 18 cents<\/a> each, starting a surge in the $Trump price that would soon reach $75 per token<\/a>.<\/p>\n

This early trader, whose identity is not known, walked away with a two-day profit of as much as $109 million, according to an analysis performed for The New York Times.<\/p>\n

But the fast profits for early traders, whose names are unknown but some of whom appear to be based in China<\/a>, came at the expense of a far larger number of slower investors who have cumulatively suffered more than $2 billion in losses after the price of the token crashed.<\/p>\n<\/div>\n<\/div>\n

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As of the middle of this week, more than 810,000 wallets had lost money on the bet, according to an examination that the crypto forensics firm Chainalysis performed for The New York Times. The total losses are almost certainly much larger: The data does not include transactions that took place on a series of popular<\/a> crypto<\/a> marketplaces that started offering the coin only after its price had already surged.<\/p>\n

The price of $Trump hovered around $17 this week,<\/a> less than a quarter of its $75 peak value.<\/p>\n

Whether people made or lost money, it was stellar business for the Trumps. Nearly $100 million in trading fees have flowed to the family and its partners, although most of that has not yet been cashed out, the Chainalysis data shows.<\/p>\n

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Some traders made tens of millions off a new cryptocurrency launched by President Trump and his sons. Many others lost out.The curious trade came a little past 9 p.m. on Jan. 17 \u2014 a $1,096,109 bet less than two minutes after the soon-to-be president of the United States posted on his social media account that his family had issued a cryptocurrency called $Trump.In those first minutes, a crypto wallet with a unique identification code beginning 6QSc2Cx secured a giant load of these new tokens \u2014 5,971,750 of them \u2014 at the opening sale price of just 18 cents each, starting a surge in the $Trump price that would soon reach $75 per token.This early trader, whose identity is not known, walked away with a two-day profit of as much as $109 million, according to an analysis performed for The New York Times.But the fast profits for early traders, whose names are unknown but some of whom appear to be based in China, came at the expense of a far larger number of slower investors who have cumulatively suffered more than $2 billion in losses after the price of the token crashed.As of the middle of this week, more than 810,000 wallets had lost money on the bet, according to an examination that the crypto forensics firm Chainalysis performed for The New York Times. The total losses are almost certainly much larger: The data does not include transactions that took place on a series of popular crypto marketplaces that started offering the coin only after its price had already surged.The price of $Trump hovered around $17 this week, less than a quarter of its $75 peak value.Whether people made or lost money, it was stellar business for the Trumps. Nearly $100 million in trading fees have flowed to the family and its partners, although most of that has not yet been cashed out, the Chainalysis data shows.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and\u00a0log into\u00a0your Times account, or\u00a0subscribe\u00a0for all of The Times.Thank you for your patience while we verify access.Already a subscriber?\u00a0Log in.Want all of The Times?\u00a0Subscribe.<\/p>\n","protected":false},"author":1,"featured_media":21883,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-21881","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/21881","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21881"}],"version-history":[{"count":2,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/21881\/revisions"}],"predecessor-version":[{"id":21884,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/posts\/21881\/revisions\/21884"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=\/wp\/v2\/media\/21883"}],"wp:attachment":[{"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/medexperts.pro\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}