"Whale's $33.9M TRUMP Coin Bet Wipes Out in $21M Loss"

Whale's $33.9 Million Bet on TRUMP Coin Faces $21 Million Loss Amid Market Volatility

A prominent crypto investor, known as a "whale," recently placed a significant bet on TRUMP Coin, a memecoin launched in mid-January, only to face a substantial loss due to market volatility. The whale initially invested $33.9 million in TRUMP Coin, purchasing 766,083 tokens at a price of $44.25. However, the market's fluctuations led to a $21 million loss, wiping out all profits and resulting in a $9 million unrealized loss of principal.

The TRUMP Coin, which is the 40th-largest crypto asset by market cap, has seen a mixed performance since its launch. While it has experienced a 12.5% increase in the past 24 hours, it has also faced a 36% decline over the past seven days. The volatile nature of the crypto market has led to both gains and losses for investors, with the whale's experience serving as a reminder of the risks involved in such investments.

Meanwhile, the crypto market has witnessed a significant liquidation event, with over $2 billion in sell-offs. This sell-off has been attributed to various factors, including market sentiment and regulatory concerns. Despite the volatility, some projects, such as AgentLayer and Vitalik Buterin's support for Taiko and DoraHacks, have continued to make progress in the decentralized finance (DeFi) space.

In Singapore, the crypto market has seen a surge in interest from wealthy investors following Donald Trump's re-election. According to Gerald Goh, CEO of Sygnum, a Singapore-based virtual asset banking group, the Trump effect has led to a mad scramble for rich Asian investors, with the firm's onboarding rate for new clients doubling or tripling in the week following Trump's victory. Independent Reserve, a crypto exchange based in Singapore, also reported a 20% increase in the number of family offices in its client base in 2024 compared to 2023.

World Liberty Financial, a decentralized finance project backed by US President Donald Trump, has transferred a significant portion of its Ethereum holdings to Coinbase Prime. The transfer, which spanned eight assets and took place across 13 transactions, included 73,