A recent report has found that US President Donald Trump\u2019s official memecoin, TRUMP, had a faster listing process on crypto exchanges than the average memecoin and generated millions of dollars in gains for the platforms.<\/p>\n
On Monday, news agency Reuters shared<\/a> an analysis of market data and industry announcements related to the listing of the official TRUMP memecoin on some of the biggest crypto exchanges by market share.<\/p>\n In January, President Trump surprised the crypto industry after launching his official token ahead of the start of his presidency. The cryptocurrency quickly skyrocketed to its all-time high (ATH) of $75, yielding significant profits for many early investors.<\/p>\n However, the memecoin faced heavy backlash<\/a> from the community, with several investors calling the President\u2019s crypto venture a \u201cbig red flag.\u201d<\/p>\n Notably, 80% of the cryptocurrency\u2019s supply was held by the Trump family and their partners, raising concerns over \u201csuch a high concentration of ownership\u201d, which can allow the team behind it to \u201csell large amounts of it at once, collapsing the price for retail investors,\u201d Reuters noted.<\/p>\n The report claims that exchanges have been \u201cmajor beneficiaries of Trump\u2019s embrace of the industry,\u201d as TRUMP has generated millions of dollars in revenue for the 10 largest exchanges reviewed by Reuters.<\/p>\n Based on standard fee estimates compiled for the analysis, the crypto platforms allegedly made more than $172 million in trading fees since the token\u2019s listing. Additionally, the token has \u201cfavored a small group of investors,\u201d with 45 crypto wallets making around $1.2 billion in profits over the past six months.<\/p>\n Nonetheless, as the token trades at 87.1% below its ATH, 712,777 wallets accumulate a collective loss of $4.3 billion, according to Bubblemaps data.<\/p>\n According to the report, the largest exchanges, including Binance, Gate.io, Bitget, MEXC, OKX, Coinbase, Bybit, Upbit, Crypto.com, and HTX, listed Trump\u2019s token \u201cwith unusual speed\u201d compared to other recent prominent memecoins, despite the industry\u2019s concerns.<\/p>\n Reuters\u2019 analysis showed that eight of the 10 largest crypto exchanges<\/a> listed TRUMP within the first 48 hours since its launch. Coinbase listed the memecoin three days later, while Upbit added the token nearly a month later, on February 13.<\/p>\n Meanwhile, the same 10 exchanges took significantly more to list Pepe (PEPE), Bonk (BONK), Fartcoin (FARTCOIN), and dogwifhat (WIF), the four other largest memecoins launched since 2022.<\/p>\nPresidential Token Saw Express Listing Process<\/h2>\n