Trump hypes crashing meme coin, hedge funders cry ‘havoc’

The official play by the same Trump reached its summit of $ 75.35 on January 19, 2025, shortly after its launch on January 17 – three days before Donald Trump’s second term at the start of the American president. Since then, the value of the room has fallen from a cliff.

Since February 1, ASSET is negotiated at around $ 19.38. It is almost 74% of its peak.

The market capitalization of the part remains substantial, with an entirely diluted assessment of around $ 2 billion (80% of the tokens are held by affiliates of the Trump organization).

The founder of Skybridge Capital, Anthony Scaramucci – an ally who has become a critic of Trump – calls the president to what he alleys is a pump and devesine program.

“President Trump posted on Truth Social last night in an attempt to” pump “his $ Trump same (yes it’s a real sentence that many have normalized)”, Scaramucci poster Saturday on X. “The result was an acceleration of the” DUMP “, now decreasing 70% compared to its peak. The template is in place.

Wall Street worried?

Trump, who owns Truth Social through his company Trump Media & Technology Group, Hawks Hawks on his personal account (that is to say, Non -loot or nft tokens).

And, in September, Trump helped to promote World Liberty Financial, a decentralized financial platform for investors to borrow and lend using cryptocurrencies. He and his sons are not considered owners of the company, but they have an agreement to pay to promote it, according to The New York Times.

The official play by Trump is only the last attempt at money (Bibles and Maga brand sneakers have also been promoted).

Scaramucci, whose hedge fund was among the first to dive into the crypto in 2020, laid A question to its 1 million followers on X: “Could someone explain to me on Crypto X How the president pumping his own piece of memes is a good thing?”

Scaramucci, who began his career at Goldman Sachs, is not the only Wall Street Pro examining the world of cryptocurrency now in the form of cryptocurrency and Trump’s White House (Melania A an official meme pieceAlso).

According to the Financial timeA memo of the hedge fund based in New York, Elliott Management, suggests that the warm adoption of Trump of digital parts feeds a speculative frenzy that could “wreak havoc”.

Irony? The founder of Elliott, Paul Singer, is no stranger to Trump in the world. Although he was a long -standing crypto critic, he donated $ 56 million to conservative candidates in 2024, including $ 5 million at the PAC “Make America Great Again”.

Since the election of Trump, Bitcoin has exceeded $ 100,000, fueled by its wish To make America “the bitcoin superpower of the world”. Not the type to miss an opportunity, Trump has not lost time to sign a decree to promote a National cryptography storage.

Meanwhile, Elliott’s note wonders why the United States would encourage alternatives to the dollar at a time when other countries are rush to abandon it.