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Early Investors in Donald Trump’s Memecoin May Have Been Tipped Off, Experts Claim
Within moments of Donald Trump announcing his new coin, traders made high-value bets that quickly paid off. Did they have an edge?
Among the wallets that have profited most handsomely from TRUMP, Nansen data shows, are many that dealt in comparatively small sums, which implies that some regular people managed to beat the crowd in the same way as the big early traders. Beyond an incredible stroke of fortune and gall, Sibenik and Powers claim, only one other theory could explain traders plowing hundreds of thousands of dollars into TRUMP so soon after it was unveiled: The trades were placed by automated sniping bots. But in an interview on January 23, venture capitalist David Sacks, appointed by Trump as the US AI and crypto czar, claimed that memecoins should be treated as a type of collectible, an unregulated asset class.
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