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- Whales Dominate Trump and Melania Tokens: 94% Owned by Just 40 Wallets
Whales Dominate Trump and Melania Tokens: 94% Owned by Just 40 Wallets
The TRUMP and MELANIA meme coins are dominated by crypto whales, with just 40 wallets holding 94% of the supply, sparking concerns about token distribution despite their success in onboarding new crypto users.
Steven Walgenbach
January 23, 2025
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Breaking Crypto Stories
Here are the top stories today:
Crypto Whales Dominate Holdings of Trump Family Tokens: Chainalysis
Bitcoin Not a ‘Threat’ to the US Dollar: Goldman Sachs CEO
Tornado Cash Sanctions Dropped: A Major Win for Privacy in Crypto
Prominent Ethereum Developer Departs to Explore AI Innovations Amid Leadership Reshuffle
CLS Global Pleads Guilty to US Charges of Crypto Market Manipulation
Question of the Day
What will Trump focus on in his inauguration speech?
Donald Trump and Melania Trump’s meme coins are largely dominated by crypto whales, with just 40 wallets holding 94% of the total supply, but their launch attracted a wave of new crypto users despite concerns over token distribution.
94% of the TRUMP and MELANIA token supply is controlled by 40 wallets, each holding $10 million or more.
Nearly half of buyers created wallets on the same day they purchased the tokens, signaling significant onboarding of new crypto users.
Blockchain analytics revealed discrepancies in the MELANIA token’s stated versus actual distribution, with nearly 90% of its supply reportedly held in a single wallet shortly after launch.
Goldman Sachs CEO David Solomon considers Bitcoin an "interesting speculative asset" with valuable underlying technology for banks but doesn't view it as a threat to the US dollar, emphasizing regulatory limitations in its adoption.
Solomon sees Bitcoin as a speculative asset with useful technology to reduce financial system friction but notes banks face significant regulatory constraints in using it.
Solomon believes Bitcoin is not a threat to the US dollar, echoing industry views that dollar-backed stablecoins can extend US financial influence.
Goldman Sachs is spinning out its cryptocurrency platform to focus on blockchain-based financial instruments, with completion expected in 12–18 months pending regulatory approvals.
A US court drops sanctions against Tornado Cash in a landmark decision for privacy-preserving technologies, signaling potential shifts in crypto regulation.
A U.S. court has overturned sanctions against Tornado Cash, a privacy-focused cryptocurrency mixing protocol, marking a major milestone for privacy-preserving technologies and a potential shift in crypto regulation.
The court ruled that Tornado Cash’s immutable smart contracts do not qualify as "property" under the International Emergency Economic Powers Act, challenging the legal basis for the Treasury’s sanctions.
While the decision is a win for innovation in privacy tech, it raises ongoing questions about regulatory compliance and individual liability in decentralized protocols, as seen in the case of Tornado Cash developer Alexey Pertsev.
Ethereum developer Eric Conner exits amid leadership disagreements, citing decentralization concerns.
Eric Conner, a key Ethereum developer, departs amid disagreements over Vitalik Buterin's leadership and restructuring of the Ethereum Foundation, citing concerns about decentralization.
Conner announces a pivot to artificial intelligence, planning to build Freysa.ai, as he shifts focus to areas where innovation and community alignment thrive.
Buterin’s leadership overhaul sparks debate within the Ethereum community, highlighting tensions between governance reforms and blockchain's decentralization ethos.
CLS Global pleads guilty to US charges of manipulating cryptocurrency markets in an FBI-led sting involving a fake token.
UAE-based CLS Global pleads guilty to market manipulation charges in an FBI sting involving a fake cryptocurrency token, admitting to fraudulent practices such as wash trading to inflate trading volumes.
The firm faces a $428,059 fine, forfeiture of funds on Binance and KuCoin, and a three-year prohibition on crypto activities involving US-based investors, along with strict SEC oversight.
This landmark case highlights the FBI’s innovative approach to combating crypto fraud, with NexFundAI exposing manipulation schemes and leading to charges against 18 individuals and another firm.
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