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“Now that 80% of Trump ’s wealth suddenly consists of crypto, you can expect an end to all federal income taxes on crypto sales within the year. This is how the game is played,” wrote Mike Alfred, a crypto investor and founder of Alpine Fox LP.
Pseudonymous trader Gammichan shared similar thoughts about Trump’s potential financial motivation.
Custodia Bank’s CEO, Caitlin Long, suggested that Trump’s crypto ventures could influence US tax policy.
“Trump now has a real incentive to change crypto taxation in the US. A US president-elect meme -coining during inauguration weekend was not on my bingo card,” she said.
Related: How did Donald Trump deal with crypto during his first term?
$TRUMP token’s meteoric rise
Launched on Jan. 17, just days before Trump’s inauguration, the TRUMP token has captured the crypto community’s attention. The token surged 610% overnight from Friday into Saturday, trading at $68 at the time of writing.
“Because of the TRUMP launch, which just hit $72 billion FDV, it siphoned away all the liquidity from existing alts and into $TRUMP , SOL , and some others,” said Daan Crypto, a pseudonymous trader on X . “This is simply because people sell their coins to buy TRUMP. There’s not enough liquidity in such a short time span, especially during a weekend.”
Over 80% of TRUMP’s supply is held by CIC Digital, an affiliate of the Trump Organization, and Fight Fight Fight, a co-owned entity. These holdings are locked in a three-year unlocking schedule, preventing their immediate sale.
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