TRUMP's MEME Coin Surges—A New Force in Crypto
Trump's official MEME coin surged from $0.15 to $70 in two days, with Trump’s entities owning 80%, potentially surpassing his business empire. Its rise raises concerns about market manipulation. Meanwhile, a Litecoin ETF may be approved, and Deribit is exploring acquisition offers.
TRUMP's own MEME coin rocking the market
Trump's official MEME coin https://gettrumpmemes.com/, announced on Truth Media then X, convincing it's not an account hack but a real, official MEME coin under the new president of the United States.Price soared from $0.15 to $30 on 1 day, then in the next day from $30 to $70. https://coin7arketcap.com/currencies/official-trump/ , ranking #18 as of now. Meanwhile Trump's affliated entities own 80%, so now it's a much bigger fortune than Trump's business empire and in another way of measurement, Trump will be the richest man in the world if $TRUMP goes to $270...Question to you - do you think TRUMP will flip DOGE as the new MEME leader?Question to Trump - are you not worried about market manipulation or unauthorized securities issuance?
Litecoin spot ETF on its way?
Canary Capital, a new digital asset-focused investment firm founded by former Valkyrie Funds co-founder Steven McClurg, has filed an amended S-1 for their Litecoin ETF filing. (no 19b-4 filing yet though)Bloomberg's Balchunas expects Litecoin is most likely to be the next coin approved. Litecoin's similar tech specs to bitcoin may also prove a factor, assuming their reliance on proof of work consensus mechanism spell better likelihood of being considered a commodity.
Deribit draws interest from buyers
According to Bloomgberg, Deribit, the world’s largest trading platform for Bitcoin and Ether options, has drawn interest from potential acquirers and is working with a financial adviser Financial Technology Partners LLC to review opportunities, according to people with knowledge of the matter.Deribit stated in a release: "Deribit has not been listed for sale. Over time, we have received strategic investment interest from various parties, and we will not disclose these interests. As part of the normal course of business operations, Deribit has engaged FT Partners in early 2023 as advisors for general consulting services and potential secondary market investments."
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