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Donald Trump, Republican candidate and former President, finds himself at the center of another lucrative intrigue not real estate or business, but the crypto world. His charismatic virality makes him a leading figure in PoliFi meme coins. With over half a million TRUMP (MAGA) tokens in his digital wallet, according to Arkham, the question looms: how much are his holdings worth today?

Don't Miss: If you invested $100 in DOGE when Elon Musk first tweeted about it in 2019, heres how much youd have today. 1 in 4 Americans own a share of Bitcoin according to NASDAQ, how many people got started through this free crypto faucet? According to Cathie Wood, holding 6 Ethereum (ETH) could make you a millionaire, heres why it can be true.

MAGA, launched in August 2023, was the first project to allocate tokens to Trumps crypto wallet as a successful marketing scheme. On Aug. 16, 2023, the owners of MAGA sent approximately 470,000 MAGA tokens to Trumps wallet, followed by an additional 110,000 tokens on Oct. 9, 2023. Trump received a total of approximately 580,000 MAGA tokens, representing around 1.2% of MAGAs 46.5 million total token supply. At the time, the tokens were worth a mere few thousand dollars, as MAGA's price was less than $0.01.

The MAGA token lay dormant for months after its launch in August, only reaching a $2.5 million market cap in 2023. MAGA began moving, catalyzed by positive market sentiment in January 2024 soaring to $2.26 from $0.18 (over 1100% increase) in just 14 days. The next leg up was on March 3, 2024, to $11.54. A consolidation followed that led to MAGA ascending to $17.52 on May 31, 2024 the current all-time high price. Afterward, MAGA had a sharp sell-off to $5.55 by mid-June and currently sits around $7.13.

Trump's 580,000 MAGA tokens have an estimated value of $4.2 million at today's price of $7.13. Trump received his tokens as a gift when MAGA was less than $0.01, which means his MAGA holdings have increased over 71 thousand percent since then.

Trending: Dogecoin millionaires are increasing investors with $1M+ in DOGE revealed!

However, the estimated value of Trump's holdings is far from actuality after factoring in slippage (the difference in the executed trade price compared to the expected trade price). Liquidity (how easily an asset can be converted into ready cash without affecting its market price) and volatility (rapid price changes in a short time) are the primary causes of slippage.

During trade execution, volatility is far less concerning because of the wide distribution of MAGA tokens and its large market cap over $350 million. MAGA's biggest slippage factor is low liquidity, as there would not be enough buy orders at the current price to fill Trump's entire holdings. If Trump were to sell all 580,000 tokens, his sell order would consume all available buy orders, lowering the overall price. If Trump sold his entire holdings on Uniswap, he would expect to receive only around $2 million. Trump's profit would be over 50% less than the nominal evaluation of $4.2 million.

This underscores how liquidity plays an essential role in the cryptocurrency market. Nobody can escape the fundamentals; high-profile individuals like Trump must navigate intricate market dynamics. This scenario emphasizes an important lesson for investors: face value doesn't always translate to actual cash.

Like holding any cryptocurrency, holding meme coins like MAGA comes with its own set of risks. Meme coins can be especially volatile, creating a landscape where potential profits quickly turn to substantial losses. Making informed decisions and understanding the risks associated with your investment is crucial to maneuvering the unpredictable market.

Read Next: 82% of Americans arent using this government secured 5% passive income stream, are you one of them? How much Bitcoin did Michael Saylor says you need to become a millionaire? The number may shock you. Market News and Data brought to you by Benzinga APIs

2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Elon Musk hints 80-hour-a-week DOGE job for ‘high-IQ revolutionaries’ will be unpaid

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Elon Musk hints 80-hour-a-week DOGE job for 'high-IQ revolutionaries' will be unpaid

“Super high-IQ revolutionaries” who are willing to work 80+ hours a week are being urged to join Elon Musk’s new cost-cutting department in Donald Trump’s incoming US government.

The X and Tesla owner will co-lead the Department Of Government Efficiency (DOGE) with former Republican presidential candidate Vivek Ramaswamy.

And in a post on X, the official DOGE account put out a call to arms for people to sign up and help “dismantle government bureaucracy”.

The post said: “We are very grateful to the thousands of Americans who have expressed interest in helping us at DOGE.

“We don’t need more part-time idea generators.

“We need super high-IQ small-government revolutionaries willing to work 80+ hours per week on unglamorous cost-cutting.

“If that’s you, DM this account with your CV. Elon & Vivek will review the top 1% of applicants.”

Read more:
Who is in Trump’s top team?
Trump’s cabinet signals tough stance on China

Elon Musk speaks after President-elect Donald Trump spoke during an America First Policy Institute gala at his Mar-a-Lago estate. Pic: AP Photo/Alex Brandon
Image:
Elon Musk speaking at an event held at Donald Trump’s Mar-a-Lago estate. Pic: AP Photo/Alex Brandon

In a reply to an interested party, Mr Musk suggested the lucky applicants would be working for free.

“Indeed, this will be tedious work, make lost of enemies & compensation is zero,” the world’s richest man wrote.

“What a great deal!”

When announcing the new department, President-elect Donald Trump said Mr Musk and Mr Ramaswamy “will pave the way for my administration to dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure federal agencies”.

Mr Musk has previously made clear his desire to see cuts to “government waste” and in a post on his X platform suggested he could axe as many as three-quarters of the more than 400 federal departments in the US, writing: “99 is enough.”

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At least 10 dead after fire rips through retirement home in Spain

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At least 10 dead after fire rips through retirement home in Spain

At least 10 people have been killed after a fire broke out at a retirement home in northern Spain in the early hours of this morning, officials have said.

A further two people were seriously injured in the blaze at the residence in the town of Villafranca de Ebro in Zaragoza, according to the Spanish news website Diario Sur.

Jardines de Villafranca nursing home following the fire.
Pic: AP
Image:
Two people remain in a critical condition following the blaze. Pic: AP

They remain in a critical condition, while several others received treatment for smoke inhalation.

Firefighters were alerted to the blaze at the residence – the Jardines de Villafranca – at 5am (4am UK time) on Friday.

Residents are moved out of the nursing home following the fire.
Pic: AP
Image:
Several residents were treated for smoke inhalation. Pic: AP

Those who were killed in the fire died from smoke inhalation, Spanish newspaper Heraldo reported.

The residence is home to 82 elderly residents.

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The blaze started in one of the rooms, Fernando Beltran, the national government’s top official in the region, told reporters.

All of the victims were elderly residents, he added.

Relatives waiting for news outside the nursing home where least 10 people have died in a fire in Zaragoza, Spain.
Pic: AP
Image:
Relatives wait for news outside the care home. Pic: AP

Fire crews, paramedics and police officers remain on site, said a spokesperson for the regional government of Aragon who confirmed the fatalities.

It took firefighters several hours to extinguish the blaze, they said.

The cause of the fire is unknown and is being investigated.

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Elon Musk hints 80-hour-a-week DOGE job for ‘high-IQ revolutionaries’ will be unpaid

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Elon Musk hints 80-hour-a-week DOGE job for 'high-IQ revolutionaries' will be unpaid

“Super high-IQ revolutionaries” who are willing to work 80+ hours a week are being urged to join Elon Musk’s new cost-cutting department in Donald Trump’s incoming US government.

The X and Tesla owner will co-lead the Department Of Government Efficiency (DOGE) with former Republican presidential candidate Vivek Ramaswamy.

And in a post on X, the official DOGE account put out a call to arms for people to sign up and help “dismantle government bureaucracy”.

The post said: “We are very grateful to the thousands of Americans who have expressed interest in helping us at DOGE.

“We don’t need more part-time idea generators.

“We need super high-IQ small-government revolutionaries willing to work 80+ hours per week on unglamorous cost-cutting.

“If that’s you, DM this account with your CV. Elon & Vivek will review the top 1% of applicants.”

Read more:
Who is in Trump’s top team?
Trump’s cabinet signals tough stance on China

Elon Musk speaks after President-elect Donald Trump spoke during an America First Policy Institute gala at his Mar-a-Lago estate. Pic: AP Photo/Alex Brandon
Image:
Elon Musk speaking at an event held at Donald Trump’s Mar-a-Lago estate. Pic: AP Photo/Alex Brandon

In a reply to an interested party, Mr Musk suggested the lucky applicants would be working for free.

“Indeed, this will be tedious work, make lost of enemies & compensation is zero,” the world’s richest man wrote.

“What a great deal!”

When announcing the new department, President-elect Donald Trump said Mr Musk and Mr Ramaswamy “will pave the way for my administration to dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure federal agencies”.

Mr Musk has previously made clear his desire to see cuts to “government waste” and in a post on his X platform suggested he could axe as many as three-quarters of the more than 400 federal departments in the US, writing: “99 is enough.”

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