Trump-themed meme coin attracts Asian institutional investor

The May 22 event at Trump National Golf Club in Washington is limited to just 25 people worldwide, a group chosen based on their weighted holdings of $TRUMP between the coin's Jan 17 launch and May 12.

A May 22 event at Trump National Golf Club in Washington is limited to just 25 people worldwide, a group chosen based on their weighted $TRUMP holdings between the coin's Jan 17 launch and May 12.

Among the invitees is Mr Oh Sang-rok, CEO of Hyperithm, a Seoul- and Tokyo-based firm that manages digital assets for institutional investors in Asia.

The only Korean on the list, Mr Oh is likely behind a wallet holding roughly US$3 million (S$3.9 million) worth of $TRUMP, making him the 13th-largest investor.

$TRUMP is what is known as a meme coin, a type of cryptocurrency that does not offer any particular technical innovation or utility, but gains attention through internet culture, celebrity association or viral hype.

Unlike mainstream tokens like Bitcoin, meme coins are typically driven by social media momentum and investor speculation. They can soar in price when they catch attention but just as often crash once that momentum fades.

Mr Oh is not a celebrity trader or a speculative retail buyer.

He comes from a traditional finance background, with experience in mergers and acquisitions at Morgan Stanley's Seoul office, and co-founded Hyperithm in 2018 with a goal of building a crypto investment firm that behaves more like a disciplined fund than a hype-chasing start-up.

Since then, the company has remained profitable even through industry crashes like FTX and Terra-Luna, which is a rarity in a market known for dramatic booms and busts.

Unlike many Korean crypto firms focused on local exchanges or retail platforms, Hyperithm deliberately built its first base in Japan, where institutional crypto investing is legally recognised.

The company now works with banks, securities firms and funds across Asia and the United States, and has received backing from global players like Coinbase Ventures and GS Futures.

Mr Oh has been outspoken about South Korea's slow regulatory progress and the need for digital assets to be treated as part of the country's broader high-value economy.

He sees crypto not as a cultural fad but as a serious financial infrastructure play.

"Crypto should be recognised as a core K-asset," he said in a Korean media interview.

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