A portrait of US President Donald Trump, created by Ukranian artists Daria Marchenko and Daniel Green, literally made of coins

A portrait of President Donald Trump, created by Ukranian artists Daria Marchenko and Daniel Green, literally made of coins (Don Emmert/Getty Images)

40 million $TRUMP tokens are about to flood the market

The coins are worth about $320 million at current prices.

Sage D. Young

4/15/25 1:22PM

Forty million trump tokens worth about $320 million at current prices are set to flood the market on Thursday, according to vesting analytics platform Tokenomist.

The upcoming unlock, allocated to Trump Organization affiliate CIC Digital LLC, makes up 20% of the current circulating supply and more than 75% of the meme coin’s total 24-hour trading volume, data pulled from CoinGecko shows.

Akin to the vesting schedules of a traditional firm’s shares, token unlocks permit the gradual release of cryptocurrencies and aim to restrict founding team members or investors from immediately selling en masse during the early stages of a token’s life cycle.

Token unlocks are typically a bearish signal, corresponding to a price decline given the increase in the cryptocurrency’s supply.

$TRUMP is trading at $7.93 as of 12:45 p.m. ET, an 84% drawdown in the past three months. The event is the meme coin’s first major unlocking since it first rolled out in January, three days before President Trump’s inauguration, as industry crypto leaders were in attendance at the Crypto Ball in Washington, DC.

The meme coin boasts a market capitalization of nearly $1.6 billion, making it the fourth-largest meme coin behind dogecoin, shiba inu, and Pepe. These four meme coins collectively form roughly 72% of the entire meme coin market cap, which sits at $49.2 billion.

On-chain data shows a decrease in $TRUMP holders

On the eve of Trump’s inauguration, $TRUMP had nearly 820,000 on-chain holders, but as of Tuesday, the number has dropped 22% to 635,565 holders. Crypto exchanges Binance, OKX, and Bybit are among the top 10 in terms of $TRUMP holdings, per a Dune analytics dashboard.

The vast majority of addresses holding $TRUMP have accumulated the memecoin over the past 60 to 90 days, with only a small percentage of wallets scooping up the cryptocurrency in the last 30 days, per blockchain analytics firm Nansen.

On the first day of its launch, 200 million $TRUMP tokens were available, and by January 2028, the token’s circulating supply will reach 1 billion as a result of staggered unlocks.

$TRUMP Distribution — (Source: gettrumpmemes.com)

$TRUMP is one of several cryptocurrencies undergoing token unlocks this week. Tokenomist data shows the entire crypto market is facing a weekly total unlock value exceeding $1 billion.

Sage D. Young is a crypto journalist who’s written for CoinDesk and Unchained.

Sage D. Young11h

The decentralized finance ecosystem had a brutal April, logging the highest monthly number of exploits ever at 28 hacks, with exploiters siphoning off a total of $635.2 million, data from DefiLlama shows.

The two largest exploits in April occurred on ethereum-based protocol KelpDAO and solana-native trading venue Drift. The incidents rattled on-chain users, as the total value locked in DeFi across all networks dropped from a monthly high of $99.5 billion to $84.3 billion on Friday.

“It’s a real problem, and if AI proponents (thinking specifically of Anthropic’s claims about Mythos) are to be believed, it’s only going to get worse,” according to Fredrick Collins, CEO of crypto analytics platform Velo.xyz. Collins argued that these exploits act as a significant limiter of institutional appeal, pointing to TheBlock’s report last week that JPMorgan held a similar view.

“It’s simple — for many people, having any chance that you lose your entire investment or balance in something supposed to be ‘safe’ is too much to bear,” Collins told Sherwood News.

However, not everyone thinks the recent hacks will curb interest from institutions. Nicolai Søndergaard, a research analyst at blockchain data firm Nansen, said to Sherwood, “I do not think these hacks will be a limit to institutional capital given the impact of AI and the speed at which threats appear stretch far beyond this industry.”

Søndergaard continued, “Crypto to me seems to have been hit harder as many projects perhaps wanted to get a product out there quickly and didn’t invest enough in security, even with companies around to audit.”

DeFi aims to enable internet users to have access to financial services, such as borrowing, lending, and trading, without any centralized intermediaries.

Yaël Bizouati-Kennedy

13h

After bitcoin’s best month in a year, analysts weigh in on factors for it to break $80,000 in May

May has an over 7% average historical return, but whether bitcoin can replicate this result and finally break the $80,000 level hinges on several factors.

Sage D. Young4/30/26

Riot Platforms rises following Q1 revenue beat

The bitcoin miner turned data center operator released first-quarter earnings that surpassed expectations for revenue. Shares built on strong gains from Thursday’s session in after-hours trading following the results.

Riot Platforms reported:

Q1 revenue of $167.2 million, growing 3.6% from the same quarter a year ago and surpassing analysts’ expectations of $131 million.
A diluted loss per share of $1.44, much worse than analysts’ consensus estimate of a $0.72 loss, which includes unrealized loss on its bitcoin holdings.

The bulk of company’s revenue stems from its bitcoin mining activity, which made up $111.9 million in the quarter, while its data center housing revenue stood at $33.2 million, per its press release.

The first quarter of 2026 marks an inflection point for Riot. CFO Jason Chung said on Thursday in the firm’s Q1 earnings conference call, “With the delivery of our first 5 megawatts to AMD this quarter, Riot is now an active data center operator, and for the first time, our top line now includes contracted lease revenue from an investment-grade tenant.”

The earnings report comes the same week the company announced amending its $200 million credit agreement with Coinbase by replacing a floating interest rate with a fixed rate, according to an SEC filing dated on Monday.

Sage D. Young

4/30/26

Trump-backed World Liberty token sinks to new all-time low amid governance proposal to unlock 62 billion tokens

The top 22 addresses voting in favor control 4.8 billion tokens, making up the majority of “yes” votes.