Two Days Before Taking Office, the Trumps Siphoned Off $650 Billion from the Crypto World

Early this morning, Donald Trump's wife Melania also released her own namesake meme coin, MELANIA. The good news is, if you were awake and bought in, it's a 10x coin. The bad news is, all other coins are plummeting, including TRUMP halving, SOL dropping to 235, not to mention other altcoins, making group members exclaim, "Shorting is the only stable money-making opportunity."

Wife Launches Coin, Industry Foots the Bill

Information on Melaniameme.com shows that MELANIA's tokenomics differ significantly from TRUMP's, with a specific allocation breakdown as follows: Team Share 35%, Treasury 20%, Community 20%, Public Issuance 15%, Liquidity 10%.

The major difference lies in the token unlock rules, where TRUMP's team share requires a 3-year lockup, but MELANIA's team only needs a full 30-day lockup. Starting from day 30, the team share will unlock 10% first, then linearly unlock from months 2-13 until fully unlocked by the 13th month.

At the time of writing, MELANIA's total trading volume has reached $2.6 billion, and the current total market value has exceeded $10 billion.

Yesterday, the editor was still sharing TRUMP's jokes in the group chat, "Today it hits 47, paying tribute to the 47th president, tomorrow it hits 78 to celebrate Trump's birthday, the day after tomorrow it hits 250, commemorating the 250th anniversary of the United States."

Waking up from sleep, the editor can only share "Gensler is mocking us," and the Trump family has successfully transitioned from a real estate dynasty to a "crypto dynasty."

Even the host of the Trump Bitcoin conference, Bitcoin Magazine, directly posted stating "TRUMP is a crap coin," probably undergoing the same treatment as the editor's wallet.

During the election, Bitcoin Magazine was a well-known pro-Trump media outlet, and during its official event, the Nashville Bitcoin 2024 conference, it invited Trump to the stage to give a speech. In his speech, Trump announced 11 commitments such as firing Gensler once on stage, establishing a Bitcoin national reserve, and not issuing a central bank digital currency, ushering in the era of the Trump government's crypto-friendly policy.

Finally, on the eve of Trump's inauguration, this man always dubbed crazy issued his own namesake meme coin, causing the entire world to go "crazy" as well, even Coinbase, a traditionally compliant and reputable U.S. mainstream cryptocurrency exchange, went live with TRUMP spot trading within 24 hours.

However, faced with the news of even Melania Trump launching a coin, Coinbase could only tactfully state, "As of now, MELANIA is not available on Coinbase or Coinbase Wallet. It is crucial to verify the token's availability before engaging in any transactions."

WLFI Public Sale Ends with a Twist

Meanwhile, the DeFi project of the Trump family, World Liberty Financial (WLFI), has sold out its 20 billion tokens in a public sale this morning at a price of $0.015 per token, raising a total of $300 million.

Last night, the WLFI project team's address spent $48 million within 8 hours to purchase 14,403 ETH at an average price of $3333, currently holding 28,612 ETH.

Trump's second son, Eric Trump, retweeted a tweet about his company's significant ETH purchase and hinted at a major "move" tomorrow.

While the community was immersed in the atmosphere of "Trump launching a meme coin to earn SOL to buy ETH," it wasn't until this morning that they realized that perhaps spreading FUD, then buying Ethereum to add liquidity to their own project, was the real strategy.

However, there will always be someone willing to foot the bill for the feast in the crypto world. Therefore, the WLFI project team reluctantly decided to open a small allocation to the Web3 community. Shortly after the public sale ended, they announced, "Due to overwhelming demand and high interest, we have decided to open up an additional 5% of the token supply, and the team is working hard to relaunch sales."

Community Response

Despite most people's wallets taking a hit in the early hours of the morning, apart from the jokes, there are still many viewpoints in the community worth pondering, which are worth sharing with everyone.

Alex Xu from Mint Ventures analyzed Trump's coin launch, likening it to selling themed cultural shirts, logo hats, and personal image figurines. If one can sell personal IP merchandise, then naturally, IP coins can also be sold.

"Compared to regular merchandise, cultural coins have global reach, limitless fan participation, financial attributes, and can even be sold to interested parties if they appreciate in value, unlike MAGA hats that end up collecting dust on shelves. The most unfortunate are those projects whose 'intrinsic value' comes from attention rather than genuine commercial value and product appeal, including 99% of the AI Agent tokens currently on the market."

As attention has shifted, most AI Agent tokens may face not a pullback, but a long-term collapse in valuation. Beneficiaries include the L1 where this speculative frenzy is happening, as well as projects selling water to speculators, including Solana, Moonshot, various TG BOTs, and DEXs like Raydium.

Rui from HashKey Capital believes that the arbitrage opportunity for the Trump family's second meme coin issuance has decreased, indicating the arrival of the Big Pump Coin era. The president has defined what a meme coin should look like and the technicalities of Meme are difficult to handle. The previous failed fan coins lacked utility, which is why they didn't succeed. Murad mentioned the Meme Supercycle has arrived.

Crypto trader felixhsu.eth believes that in the long term, this is a hurdle on Bitcoin's path forward. All altcoins, Sol, ETH, and meme coins are all scams. In the future, whether it's organizations or individuals, they are all selling their credibility. The application of blockchain is to establish a low-barrier casino. As long as there is a profit-making effect, there will be gamblers participating. The so-called "innovation" is to create new ways to rug pull, and the so-called "build" is to construct more sophisticated scams.

Former CTO of Coinbase Balaji Srinivasan stated on social media that meme coins are like a zero-sum lottery that doesn't create wealth. Each buy order only matches a sell order. After the initial surge, the price will eventually crash, and the final buyers will lose everything. If you consider the platform taking a cut, meme coins are actually negative sum.

Tonight, Trump is about to hold his formal inauguration ceremony, at this moment, the crypto community is destined to once again usher in a celebration.