Trader Earns $20 Million in One Hour from $TRUMP Token

The $TRUMP token quickly gained attention in the crypto world. Hours after its launch, it reached a $15 billion FDV. This meant some traders made shed loads.

The crypto market had an eventful week with several noteworthy announcements and developments. Among them was the launch of the $TRUMP memecoin by former US President Donald Trump himself.

Hours after its launch, the token FDV reached $15 billion, presenting opportunities for early investors to reap substantial profits. One trader, in particular, managed to earn over $20 million in the span of an hour.

The trader purchased 5.97 million $TRUMP tokens, spending 1.1 million USDC, approximately 90 seconds after Trump unveiled the token on Truth Social. At the time of writing, these tokens were valued at $23 million.

Later on, the trader purchased an additional 543,000 $TRUMP tokens for $404,000, bringing their total holdings to 5.43 million tokens and an estimated profit of $21 million.

In other news, Binance announced a major development this week, revealing that it now has the capacity to service residents of Uzbekistan.

The development follows the platform’s agreement with the National Agency of Perspective Projects (NAPP) in the Republic of Uzbekistan, a move that will further cement Binance’s presence in the region.

With this partnership, Binance will be able to operate in compliance with local regulations and standards for regulation, presenting a significant step in the right direction.

The agreement showcases Binance’s aim to foster a safe and innovative blockchain environment. Together with Uzbekistan’s top regulatory policymakers, Binance is working to boost local adoption.

This collaboration will enable the platform to offer services in accordance with the legal framework established in Uzbekistan.

Binance also announced new crypto transfer procedures for users in Poland as part of its efforts to comply with the latest European Union regulatory requirements.

Crypto transfers in Poland will now be subject to the new procedures, which Binance urges users to follow when making transfers through its web portal.

These updates, which will come into effect on January 20th, are designed to enhance regulatory compliance within the EU.

Specifically, the changes aim to make crypto transfers safer and more convenient for users, ultimately adhering to EU regulations and improving the overall user experience.

Meanwhile, Bybit, the second largest crypto exchange by trading volume, has announced its decision to collaborate with Entravel cryptocurrency booking service for hotel accommodations.

The goal is to enhance the Bybit user travel experience by supporting off platform discounted luxury hotel bookings.

Bybit users can also enjoy free membership to Entravel and get free rates on over one million hotels worldwide via this partnership.

Users will have access to the affordable luxury travel thanks to the discounts, which range from 60% to 70% off the price seen with traditional travel booking services.

On top of this, Bybit Cardholders will be able to enjoy other benefits, such as hotel booking cashback at up to 6%.

The partnership aligns with Bybit’s ongoing mission to increase the real-world utility of cryptocurrency and make a difference in the daily lives of users.

Finally, decentralized exchange PancakeSwap, the leading DEX on the BNB Chain, announced the commencement of an Initial Farm Offering (IFO).

Running from January 16th through 17th, the IFO will dedicate this slot to the Solv Protocol, presenting an exciting opportunity for users to connect with such liquidity and Bitcoin ($BTC) staking solutions.

The announcement was made via PancakeSwap’s official social media account, highlighting the upcoming IFO and its goal.

This IFO will direct users to Solv Protocol, where they can engage with BTC staking and liquidity solutions.

Solv Protocol enhances BTC asset utility through SolvBTC and SolvBTC.LSTs. SolvBTC is a token pegged 1:1 to the value of BTC, making it more usable for DeFi and crosschain transactions.

Moreover, liquid staking tokens (LSTs) like SolvBTC.LSTs empower BTC holders to earn yields and maintain liquidity.

Additionally, users can earn rewards, vote for governance and receive discounted fees for transfers by staking the native $SOLV token.