$70B Trump Memecoin Frenzy

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Good Morning.

Okay, what just happened over the weekend? One of the craziest stuff in crypto in the past 5 years. There are moments when you can sense the entire vibe shifted. That, Trump’s memecoin launch, was one of the moments. But it might just be the start of one of the biggest shift, which effect we’re underestimating, even now.

In Today's Email:

• What Matters: $70B Trump Memecoin 📈 

• Product: New Crypto ETFs 🚀 

• Charts: TRUMP 240X Profit, Genesis/DCG Fine 💲

You read and share. We listen and improve. Send us feedback at [email protected].

WHAT MATTERS

$70B Trump Memecoin Frenzy

State of play: President-elect Donald Trump’s Official Trump (TRUMP) memecoin has hit a $13.5B market cap, breaking into the top 20 cryptocurrencies with an all-time high of $70+ per token.

• The memecoin propelled Moonshot to the #1 finance app on the US Apple Store.

• TRUMP’s rapid growth has been driven by major exchange listings on Binance and Coinbase’s roadmap, which have attracted 400,000+ new users.

• However, concerns loom over a $2.7B token unlock in 3 months.

• Meanwhile, Moonshot processed $400M in transactions within 12 hours, shattering fiat onramp records.

• The meme coin’s success also lifted Solana to $268.75, while DEX tokens Jupiter and Raydium surged 30% and 20%, respectively.

What’s next: Trump’s memecoin has ignited a crypto-wide rally, but with major token unlocks ahead, sustainability remains uncertain.

For builders and investors: Above all, this is the strongest signal that the new Trump’s administration is FULLY READY to embrace crypto.

Take a peek at our referral reward at the bottom of this issue. Share this newsletter and receive our list of 500 crypto VC individuals 👇

PRODUCT OF THE WEEK

Litecoin, XRP & Solana ETFs

Ahead of President-elect Donald Trump’s inauguration, asset managers like VanEck, ProShares, and Canary Capital have filed a series of crypto ETF proposals, signaling growing regulatory optimism.

• A Solana spot ETF could be approved by late 2025, potentially paving the way for leveraged and inverse funds.

• Meanwhile, Canary Capital has filed for a spot in Litecoin ETF, with Bloomberg analyst Eric Balchunas predicting it could be the next approved crypto ETF.

• VanEck’s Onchain Economy ETF will invest in digital transformation companies, while CoinShares Valkyrie’s Digital Asset ETF will track top crypto assets like Bitcoin, Ethereum, Solana, and XRP.

• Meanwhile, Oasis Capital’s ETF focuses on crypto-related convertible bonds.

• ProShares has filed for leveraged, inverse, and futures ETFs for XRP and Solana, mirroring its Bitcoin and Ethereum offerings.

Other cool products:

• Sonova, an NFT marketplace on the Soneium Network.

• Endur.Fi, a tradeable Liquid Staking Token (LST) on Starknet.

• CUDIS, an AI-empowered decentralized wellness data network.

• GoCharge, a decentralised network of EV chargers and IoT devices.

• JEXchange, a decentralized exchange and DeFi tool built on MultiversX.

CHARTS OF THE WEEK

DCG, Former Genesis CEO Settle SEC Fraud Charges for $38.5M

State of play: Digital Currency Group (DCG) and former Genesis CEO Michael Moro will pay $38.5M to settle SEC fraud charges related to their response to Three Arrows Capital (3AC) 's collapse in 2022.

• DCG will pay $30M, while Moro owes $500,000. Both agreed to a cease-and-desist order but admitted no wrongdoing.

• The SEC accused them of misleading investors by falsely claiming DCG covered Genesis’ losses when it had issued a $1.1B promissory note to create an illusion of liquidity.

• The New York Attorney General is pursuing a $3B lawsuit against DCG, while SEC and DOJ investigations continue.

Our take: We’re still seeing some remnants of the 2022 days, soon it will all be over.

Trader Turns $1M to $240M on Trump Memecoin

State of play: A trader who bought $1M worth of Trump’s memecoin (TRUMP) within minutes of its announcement has turned their investment into over $240M.

• Shortly after Trump’s Truth Social post, the trader swapped 1.09M USDC for 5.7M TRUMP tokens on Solana-based Meteora.

• The trader paid Jito a $85,000 priority tip for faster execution. The tokens were then moved to multiple wallets.

• Onchain data from LookOnChain shows the trader sold 1.35M TRUMP for $3.65M while holding 4.62M TRUMP tokens, now worth ~$240M.

• The TRUMP memecoin has surged to a $10B market cap, breaking into the top 20 cryptocurrencies.

• Its fully diluted valuation now is at around $50B.

Our Take: Greatest wealth generation event in the past year.

QUICK BITES

• Solana hits new ATH.

• Robinhood lists Trump's memecoin.

• Melania launches her memecoin also.

• WLFI purchased millions worth of ETH.

• Coinbse and Binance plan to list Trump’s memecoin.

• CryptoCom obtains in-principle approval for a MiCA license.

• DCG, Ex-Genesis CEO to pay SEC $38.5M to settle charges.

• Solana TVL crosses $10B for the first time since FTX collapse.

• Ted Cruz plans to overturn the IRS's controversial crypto tax rule.

• Bitcoin flirts with record high price ahead of Trump’s inauguration.

• Helium says the company will defend itself against the SEC lawsuit.

• Vitalik Buterin details changes to Ethereum Foundation leadership.

• Trump memecoin propels Moonshot into the top 10 apps in the US.

• WLFI sees a surge in token sales following Trump's memecoin launches.

NOTEWORTHY READS & MEME

• Dovey Wan’s read on the violent delight.

• Politico’s read on the Trump memecoin launch.

• Jing’s read on all that you need to know about DeFAI.

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Disclaimer: All the information presented in this publication and its affiliates is strictly for educational purposes only. It should not be construed or taken as financial, legal, investment, or any other form of advice.