Donald Trump's Cryptocurrency Holdings Briefly Surpass $10 Million Mark

Former President Donald Trump's cryptocurrency portfolio briefly exceeded $10 million on Monday, fueled primarily by his substantial investment in the token known as TRUMP.

On May 27, blockchain intelligence firm Arkham revealed that Trump's crypto assets had reached the seven-figure milestone, largely driven by the skyrocketing value of the TRUMP memecoin, which hit an all-time high of $13.24.

Arkham reported that Trump currently possesses 579,290 TRUMP tokens, valued at approximately $6.79 million. The surge in TRUMP's value, up by 53% over the past week, followed Trump's vocal endorsements of cryptocurrencies.

In a statement on May 25, Trump expressed his optimism towards cryptocurrency companies and the broader industry. His campaign for the 2024 presidential election even established a crypto donation page on May 21.

However, TRUMP's price has since experienced an 8.8% decline, dropping to $12.04 as of the latest data from CoinGecko. Consequently, Trump's entire crypto portfolio retreated to $9.5 million amid the general downturn in crypto markets during early trading on May 28.

It's worth noting that while the MAGA memecoin was launched with the aim of supporting U.S. veterans and combating child trafficking, it is not officially endorsed or affiliated with Donald Trump. Nonetheless, the official website indicates significant donations, with 234.75 ETH contributed to U.S. veterans and 204.5 ETH to child trafficking prevention since the launch of MAGA.

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