Donald Trump "lost" $3 million in crypto last month
US presidential candidate Donald Trump saw a $3 million loss in crypto holdings in March, mainly due to the decline of MAGA Coin (TRUMP), a memecoin on Ethereum, according to data from Arkham Intelligence.
The origins of Trump’s involvement with MAGA Coin date back to August 2023 when the token’s creators gifted him 579,289 TRUMP, worth around $4,000 at the time, CoinGecko’s data shows.
The value of this memecoin has since increased significantly, making Trump’s holdings worth over $2.5 million at one point. This stake became a large part of his $5.3 million portfolio.
However, the coin’s fortunes—and by extension, Trump’s portfolio—took a sharp turn. After peaking at around $11.5 in early March, MAGA Coin’s price plummeted to around $4, around 61% lower than its record high.
The decline has negatively affected Trump’s crypto portfolio, dragging his crypto holdings down from an impressive $8.5 million to $5.3 million, reflecting a stark $3 million decline. However, this $3 million figure represents an unrealized loss, as Trump acquired the MAGA Coin tokens at no personal cost, thus missing out on millions in potential earnings by not selling at the market peak.
Many investors see MAGA Coin as a betting market on the election due to its ties to the “PoliFi” trend. The price of this token seems to be influenced by Trump’s performance during his election campaign. The price increased when he did well in the primaries and won the Republican nomination.
Despite Trump’s skepticism toward crypto, he has actively engaged in NFT ventures and made millions over the past few years.
The Trump Digital Trading Cards, released in December 2022, comprised 45,000 NFTs sold at $99 each, providing Trump with ongoing royalties from subsequent trades. From this venture, Trump amassed over 1,800 Ethereum (ETH) and Wrapped Ethereum (WETH), with his portfolio holding approximately 800 ETH and WETH.
Following the success of two earlier collections that generated significant revenue, he unveiled a new NFT collection on Bitcoin Ordinals in January.
MadFi has completed a $1 million angel investment round for its BONSAI token, a meme coin created on Lens Protocol. The funding round attracted leading investors such as Palm Tree Crew (PTC) Crypto, Avara Ventures, and Social Graph Ventures. Individual investors also participated in the funding round, such as Boys Club Inc, Spencer Noon, and Sandeep Nailwal.
BONSAI is up by 340% since its launch, at the time of writing, with its price peak showing a 435% growth. Moreover, the token shows almost $95 million fully diluted market cap.
“By rewarding content and engagement, $BONSAI has effortlessly become an integral part of Lens, encouraging monetization experimentation,” stated Carlos Beltran, co-founder and CEO of MadFi.
Lens Protocol user count almost doubled movement in the last few weeks after its network became permissionless, letting users create new profiles without requiring a whitelist. Since February 27, Lens users jumped from 142,468 to 270,703, according to a dashboard from on-chain data platform Dune Analytics.
Image: Sixdegree/Dune Analytics
According to the funding announcement, the token’s utility extends beyond simple transactions, aligning the interests of platforms, creators, and users. Creators on Lens have already earned over $3 million in $BONSAI.
“BONSAI’s integration with the Lens community, already achieving over 80% of paid mints, is impressive,” commented Brett Shear of PTC Crypto.
Furthermore, the token has overtaken wMATIC as the preferred currency for monetizable content on Lens, with a market share of collected publications reaching 77% in March.
A meme coin pre-sale on Solana (SOL) had a bad outcome for investors this weekend. After raising over $40 million in SOL to deploy its BOBAOPPA token, the notorious figure Machi Big Brother staked around 170,000 SOL and allocated just 50,000 SOL to the meme coin liquidity pool.
As a result, the BOBAOPPA price quickly crashed by almost 50% and sits at a 40% loss at the time of writing. The crypto community went to X to vent their frustrations about the price crash and, more importantly, that Machi Big Brother kept most of the funds raised in the pre-sale.
The ‘meme coin pre-sale mania’ became popular on Solana’s blockchain, and consists of investors with an appetite for risk sending funds to someone’s wallet with the promise of receiving a proportional amount of a soon-to-launch meme coin.A meme coin pre-sale on Solana (SOL) had a bad outcome for investors this weekend. After raising over $40 million in SOL to deploy its BOBAOPPA token, the notorious figure Machi Big Brother staked around 170,000 SOL and allocated just 50,000 SOL to the meme coin liquidity pool.
As a result, the BOBAOPPA price quickly crashed by almost 50% and sits at a 40% loss at the time of writing. The crypto community went to X to vent their frustrations about the price crash and, more importantly, that Machi Big Brother kept most of the funds raised in the pre-sale.
The ‘meme coin pre-sale mania’ became popular on Solana’s blockchain, and consists of investors with an appetite for risk sending funds to someone’s wallet with the promise of receiving a proportional amount of a soon-to-launch meme coin.
