Cryptocurrency Trader Nets $167,000 in 5 Hours from Trump-themed Token Transactions

In a closely watched verdict within the Hush Money case, the jury found ex-President Donald Trump guilty on all charges, amounting to 34 felony counts. The unanimous decision by the 12-member panel in New York leads to Trump’s sentencing scheduled for July 11. A link to the verdict details can be found here.

Despite the turmoil, a savvy cryptocurrency investor found opportunity, turning a substantial profit of $167,000 from trading in Trump-centric tokens, FreeTrump (FREE), and Never Surrender (TRUMP), developed in response to the verdict.

Trade Breakdown

The insightful trader exploited the volatility of the Trump-themed cryptocurrencies, FreeTrump and Never Surrender, turning them into a haul of 972 Solana (SOL) tokens valued at $167,000 in just a five-hour window.

Initially, the trader spent 85 SOL ($14,600) purchasing FREE tokens and then offloaded them for 814 SOL ($140,000), netting a profit of 729 SOL, or $125,000.

Furthermore, the trader invested 72 SOL ($12,300) in TRUMP tokens which were later sold for 315 SOL ($54,000), turning a 243 SOL profit, or $42,000.

Crypto Gains Amidst Political Battles

While Donald Trump is not directly involved, the surge in the TRUMP token has resulted in considerable profit for some within the PoliFi sector, where politics interlaces with finance and cryptocurrency.

As reported by CoinMarketCap, the TRUMP token observed a 75% increase over the prior week, with a 14% boom on May 21, stimulated by the Trump campaign’s decision to accept donations via cryptocurrencies such as Bitcoin, Ethereum, Dogecoin, and Shiba Inu.

The TRUMP token’s rise signifies how traders are treating it as a speculative investment, drawing its value from the buzz around Trump’s political maneuvers.

Disclaimer: The information presented here is not intended as investment advice. Investment opportunities are speculative in nature and there are risks involved when investing. Please note your capital may be at risk when you invest.