Trump’s Crypto Cash: How a Memecoin Made a Billion
A Dutch trader named Mortensen leveraged the official Trump memecoin to secure invitations to events hosted by President Donald Trump. He criticized the president’s $1 billion crypto earnings as “absurd” and “mind‑blowing.”
Launch & Value Surge
Trump’s memecoin debuted just before his January 2025 inauguration. Its market value spiked to nearly $15 billion before plummeting 98% to about $368 million.Impact on Investors
On‑chain data shows nearly one million buyers lost a staggering $3.81 billion, while Trump earned over $635 million in royalties.Trader’s Strategy
Mortensen sold his memecoin within a week and now only buys it while shorting the same amount—primarily to gain access to Trump’s events, not because he believes in the coin.
He notes: “Memecoins almost never last… If you’re not out in the first week or two, it’s shame.”
Other Holdings
Mortensen also holds tokens from World Liberty Financial (WLFI). Eighty percent of his WLFI tokens are locked, and he sold only 20% of the unlocked portion. He believes they’re worth nothing, citing a potential project death in two years.Political Repercussions
The crypto profits have sparked backlash. Senator Elizabeth Warren calls for rules to prevent conflicts of interest in crypto legislation. Crypto expert Dylan Dewdney warns the situation undermines crypto’s credibility.Official Stance
Trump asserts nothing illegal occurred. A White House spokesperson stated that all his assets are in “fully discretionary accounts” managed by independent banks.
