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- 🚨 Gate Alpha Ambassador Recruitment is Now Open!
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$900M in TRUMP Memecoins Set for Crypto Week Unlock - Unchained
Around 90 million Official Trump (TRUMP) tokens, valued at nearly $900 million, are set to be unlocked this week – an event that will increase the circulating supply by about 45% and allow early stakeholders, including Trump-affiliated entities, to sell their previously locked tokens.
It is one of the most significant tranches to be unlocked since the 200 million released at the coin’s January 17 launch.
The unlock will boost President Donald Trump’s net worth by an estimated $93 million, on top of earlier profits from TRUMP token sales and trading.
This story is an excerpt from the Unchained Daily newsletter.
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It also coincides with Crypto Week, which has seen heated debates in Congress on passing pro-crypto bills, with opponents criticizing the memecoin as a tool to profit from his name rather than any underlying utility.
TRUMP surged 8.5% to an intraday high of $10.31 on Wednesday before dropping to around $10.1 as of 6 am ET today.