A whale that previously won a lot on the official Trump (Trump) Memecoin recorded a loss on the controversial asset during the weekend, according to the Crypto Tracker Lookonchain.
Lookonchain notes On the social media platform X that the whale for $ 5 million has spent on Circle’s Stablecoin, USDC, to buy Trump immediately after President Donald Trump posted “I love $ Trump” on his social media platform Truth Social.
The whale then sold the Trump stock one hour later and recorded a loss of $ 207,000.
However, the loss fades in comparison with profits made earlier this year, when it spent 1.09 million USDC to buy 5.97 million Trump and achieved a profit of $ 108 million, according to Lookonchain.
The president launched the official Trump Memecoin in mid -January, days before he took office. The Active has generated controversy in and out of crypto circles, which raise questions about corruption in an already heavily interviewed administration.
Even Ethereum (ETH) founder Vitalik Buterin said in January that political coins represented ‘vehicles for unlimited political bribery’.
In a February letter At the US Department of Justice (DOJ) and the Office of Government Ethics, civil servants of the Non -Profit Consumer Interest Organization Public Citizen argued that Trump could be a violation of federal legislation that regulates gifts to government officials.
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