#134 Trump Family Deny Memecoin Association
What Happened With $140M $RTR?
GM - this is The Snapshot, edition #133.
This is what I’ve got for you this week.
This Week In NFT World - Crypto Crashes, But Everything Bounces Back
Notable Sales - IDerech, XCOPY, Hackatao, Satoshi Card, Punks
Investor Focus - Trump Family Deny Memecoin Rug - What Happened?
For sponsorship enquires, please DM me on Twitter.
Have a great day,
B
This Week In NFT World - Crypto Crashes, But Everything Bounces Back
the show when everything crashed
Some key takeaways around crashes:
How crashes can present opportunity
How you can use one crash to prepare mentally and practically for the next
[On Thursday] Jump Trading sold another 11,501 Ether ETH $2,443 worth over $29 million and redeemed another $48 million worth of Ether in preparation for selling.
However, the selling pressure from the market maker is coming to an end, as Jump Trading only has another 21,394 Wrapped Lido Staked ETH (wstETH) worth $63 million, according to an Aug. 7 post by Lookonchain.
Blackrock and exchange operator NASDAQ propose rule change to list and trade options for spot ETH fund
"Options give holders the right to buy or sell an asset, such as a stock or exchange-traded product, at a pre-determined price by a set date. "The exchange believes that offering options on the Trust will benefit investors by providing them with an additional, relatively lower cost investing tool to gain exposure to spot ether," the filing said."
Crypto veteran Meltem Demirors raising $75 million for two venture funds under Crucible Capital
"This year, the median size of deals climbed from $3 million in the first quarter to $3.2 million in the second quarter, according to data from Galaxy Research. Venture funds have also seen massive raises, including Paradigm announcing a new $850 million fund in June. While Demirors’s Crucible is aiming for a more modest $75 million, the filings indicate continued appetite among investors in the digital assets sector, especially as its political fortunes appear to improve in the U.S."
From Fortune
"VC Monthly Report in July: There were 111 publicly disclosed Crypto VC investment projects in July, an increase of 12% MOM. The total fundraising amount in July was $1.02 billion, an increase of 37.8% MOM. Some of the larger projects include Open-source AI platform Sentient, Singapore-based payment company Partior, and B3 Fun a gaming ecosystem built on Base."
DeGods rip 100% to 1.55 ETH floor: Frank pushes Telegram chat + starts talking about DeGods with reference to marketcap instead of floor price
“floor is individual… marketcap is communal… whole industry will shift to this”
"We’re going to make a little game out of this. Here’s what I’m going to do. I have 9 DeGods in this wallet. I will burn 1 at every interval leading up to 100M. 50 55 60 65 75 85 90 95 100 I just burned the first one."
Notable Sales - IDerech, XCOPY, Hackatao, Satoshi Card, Punks
Harukaze, IDerech - 8.5 ETH
XCOPY, Best Case Scenario - 12.69 ETH
Satoshi Card, Spells of Genesis - 10 ETH
Hackatao, American Child - 15 ETH
CryptoPunk, Clown Eyes Blue - 20.5 ETH
Investor Focus - Trump Family Deny Memecoin Rug - What Happened?
Restore The Republic ($RTR) launched yesterday and immediately had rumours of Trump family involvement.
CryptoTwitter was on the lookout for something from the Trump family, because of this tweet from Eric Trump which suggested that something is coming from the family imminently (which everyone assumed would get bid aggressively - they were right)
When $RTR launched, there were numerous KOLs shilling it, the Trump student’s chair said they thought it was “the official trump coin” and even the founder of Solana shared its details (the original tweets have now been deleted).
Why did people have so much conviction?
Very trusted crypto founder and OG IceBagz said that he met with one of the members of the Trump family and actually deployed this coin for them. They were allegedly going to come out to support it after deployment. This is the screenshot which was circulating on social media.
Whoever did hold the majority of coins in the end, nuked the chart. It has gone from as high as $140M to $8M - and a few hours later Donald Trump Jr denied any involvement.
This raises the question: who the hell made all the money then?
5 insiders wallets made over $4M.
the tweet
Unclear at the moment. Unclear who to trust out there.
With crypto getting increasingly politicised in the US and across the globe, feels like this type of activity will get insanely risky for everyone involved because so much money is at play (although arguably another coin rugging is nothing new).
In the meantime, speculators got rekt. Memecoin enjoyers beware.
Have a great day,
B
Disclaimer: The content covered in this newsletter is not to be considered as investment advice. It is for informational and educational purposes only.
I hold some of the NFTs mentioned in these newsletters
This is a first. Reading The Snapshot in detail while listening to you talk about it on MM this morning.
Feels good, man, feels good...