<\/p>\n
A whale who previously won big on the Official Trump (TRUMP<\/a>) memecoin booked a loss on the controversial asset over the weekend, according to the crypto tracker Lookonchain.<\/p>\n Lookonchain notes<\/a> on the social media platform X that the whale spent $5 million worth of Circle\u2019s stablecoin, USDC<\/a>, to buy TRUMP right after President Donald Trump posted<\/a> \u201cI LOVE $TRUMP\u201d on his social media platform Truth Social.<\/p>\n The whale then sold the TRUMP stash an hour later, booking a $207,000 loss.<\/p>\n However, the loss pales in comparison to gains the whale made earlier this year when it spent 1.09 million USDC to buy 5.97 million TRUMP and booked a $108 million profit, according to Lookonchain.<\/p>\n The president\u00a0launched<\/a> the Official Trump memecoin in mid-January, days before he took office. The asset has generated controversy in and out of crypto circles, raising questions of corruption in an already heavily questioned administration.<\/p>\n Even Ethereum (ETH<\/a>) founder Vitalik Buterin\u00a0said<\/a> in January that political coins represented \u201cvehicles for unlimited political bribery.\u201d<\/p>\n In a February\u00a0letter<\/a> to the U.S. Department of Justice (DOJ) and the Office of Government Ethics, officials at the nonprofit consumer advocacy organization Public Citizen argued TRUMP could be a violation of federal law regulating gifts to government officials.<\/p>\n Follow us on X<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>   Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" A whale who previously won big on the Official Trump (TRUMP) memecoin booked a loss on the controversial asset over the weekend, according to the crypto tracker Lookonchain. Lookonchain notes on the social media platform X that the whale spent $5 million worth of Circle\u2019s stablecoin, USDC, to buy TRUMP right after President Donald Trump […]<\/p>\n","protected":false},"author":2,"featured_media":385357,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-385356","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/385356","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=385356"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/385356\/revisions"}],"predecessor-version":[{"id":385358,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/385356\/revisions\/385358"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/385357"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=385356"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=385356"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=385356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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