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In a recent analysis by Chainalysis, it has been revealed that President Trump and his affiliates have accrued nearly $900,000 in transaction fees from the TRUMP cryptocurrency token over just two days. This financial development comes on the heels of an announcement regarding a dinner event with the President aimed at incentivizing participation among the top 220 holders of the token. Detractors argue that this initiative serves as a conspicuous effort to capitalize on the opportunity to engage with the President.
Since its inception in January, the token’s trading activities have yielded an impressive $324.5 million in fees for involved parties. These revenues arise from a protocol that allocates a small percentage of each transaction to wallets under the control of the project’s architects. According to Chainalysis, these wallets are linked directly to the token’s originators, raising questions about the transparency and ethical implications surrounding this cryptocurrency.
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