Crypto Surges As Trump Settles U.S China Trade Dispute and we take a look into $TRUMP token
Cryptocurrency markets bounced back on Sunday following remarks by U.S. President Donald Trump who moved to calm escalating trade tensions with China.
The comments sparked a spike in Bitcoin (BTC) and Ethereum (ETH) even as growing investigations reveal how Trump’s deep ties to the crypto sector may be shaping both his political and economic agenda.
You would have seen that this week a lot of panic hit global markets after Trump’s administration announced plans for 100% tariffs on Chinese imports sending risk assets into freefall.
Bitcoin Movements
Bitcoin which had hit an all time high of over USD 125,000 earlier in the week plunged more than 12% to below USD 113,000 marking the largest liquidation event in crypto history. According to data from Coinglass over USD 19 billion in leveraged positions were wiped out in 24 hours forcing more than 1.6 million traders to close their positions. Analysts dubbed it a “black swan” event that exposed just how tightly crypto prices are now intertwined with global macroeconomic politics.
By Sunday afternoon things had already changed as Trump posted on social media that Chinese President Xi Jinping was “highly respected” and insisted that both nations “want to avoid economic pain.” The president assured Americans that “it will all be fine,” setting a softer diplomatic tone towards the Chinese economy.
The effect was immediate Bitcoin rose 3% and Ethereum jumped 10% in the hours that followed as investors interpreted the remarks as a potential ease US and China trade relations.
However, while Trump’s diplomacy appeared to lift the market it also reignited debate over his personal financial interests in the cryptocurrency industry interests.
Trump Coin Empire
An investigation by Australia’s ABC’s Four Corners has revealed that Trump and his family have quietly built a crypto empire that has generated hundreds of millions of dollars in profits since he returned to the White House. His family’s flagship venture, World Liberty Financial has reportedly sold more than USD 550 million worth of its tokens delivering an estimated USD 390 million in revenue to the Trump family.
The company which launched just months before Trump’s re election allowed users to invest through tokenized assets with 75% of all profits flowing directly to the Trump family trust. The venture partners include billionaire developer Steve Witkoff and his sons who are both long time allies of the president.
The $TRUMP meme coin a cryptocurrency launched three days before Trump’s inauguration has also been a win for Trump. Within four months of launch, the token generated USD320 million in trading fees with the Trump family pocketing a significant portion.
In Virginia earlier this year the top 220 TRUMP holders collectively owning about USD 150 million worth of the coin were invited to dine with the president. Among them was Nick Pinto a 25 year old crypto investor who told Four Corners he didn’t mind that Trump was profiting. “If there’s a way for the average American to make money off the president, I feel like it’s OK,” he said.
Interesting times in the sector especially for the U.S President who has been on of the sectors largest winners!
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