Gregory Pudovsky
Printed: January 17, 2025 at 9:59 am Up to date: January 17, 2025 at 9:59 am
MAGAVERSE, a Solana-based meme coin, donated $1 million to organizations supported by Trump forward of the inauguration.
Meme coin challenge MAGAVERSE (MVRS) has donated $1 million to organizations backed by Donald Trump, who’s making ready to take over the workplace of the US presidency as soon as once more.
In line with MAGAVERSE neighborhood chief Lee Hutchinson, the donation is supposed to help the pro-crypto president-elect. “We put our cash the place our mouth is. This was our approach of claiming thanks to a person who has not solely saved America but in addition saved crypto.”
Donald Trump’s marketing campaign in opposition to Democrat candidate Kamala Harris closely concerned crypto, with Trump shopping for hamburgers with Bitcoin and even promising to make Bitcoin a reserve foreign money. Trump’s pro-crypto strategy gained him help from crypto leaders in addition to tech titans. Amazon founder Jeff Bezos and Meta founder Mark Zuckerberg additionally donated to the identical organizations.
The meme coin challenge introduced the donation forward of the inauguration. Venture representatives will attend a number of inaugural occasions in Washington, D.C., the place they may be part of official balls and galas hosted by Trump’s group.
A Rocky Begin
Launched on the Solana blockchain with inspiration from public figures comparable to Trump, Elon Musk, and Vivek Ramaswamy, MAGAVERSE initially confronted challenges when a developer dumped tokens, disrupting its early momentum. Nevertheless, after a management change, the challenge discovered new momentum, due to a shift towards community-driven objectives and a clearer imaginative and prescient for the long run.
Solana’s low transaction charges and quick processing instances additionally helped the meme coin achieve traction inside the cryptocurrency world. With a imaginative and prescient and superior technical capabilities, the meme coin is thought to be “the highest PolitiFi token of 2025” by its supporters.
Trump’s Professional-Crypto Stance
Throughout his first time period, Donald Trump maintained an opposing view about cryptocurrencies. As soon as saying “he’s not a fan of Bitcoin,” the president-elect stated that Bitcoin’s worth relies on skinny air, claimed cryptocurrencies are a software for unlawful actions and even went on to name them a rip-off.
Trump’s stance modified with the latest presidential marketing campaign, and he started to vow “to cease Joe Biden’s campaign to crush crypto,” who was working for president earlier than Kamala Harris. Trump vowed to make Bitcoin a strategic reserve foreign money as a complementary to US greenback and stated the US will determine the way forward for BTC and cryptocurrencies.
The president-elect attended the Bitcoin 2024 convention as effectively, the place he delivered a keynote speech and confirmed his plans to make BTC a reserve foreign money. He assured the neighborhood that crypto rules shall be ready by individuals who love the business, not haters.
In line with sources conversant in the matter, the upcoming president even plans to signal an govt order to make crypto a nationwide precedence.
Trump’s election win is seen as a win for the crypto business as effectively. Group individuals count on ongoing circumstances in opposition to crypto firms within the US to drop and cryptocurrencies to obtain a normal enhance.
Disclaimer
Consistent with the Belief Venture pointers, please observe that the knowledge supplied on this web page is just not supposed to be and shouldn’t be interpreted as authorized, tax, funding, monetary, or another type of recommendation. It is very important solely make investments what you’ll be able to afford to lose and to hunt impartial monetary recommendation you probably have any doubts. For additional info, we recommend referring to the phrases and situations in addition to the assistance and help pages supplied by the issuer or advertiser. MetaversePost is dedicated to correct, unbiased reporting, however market situations are topic to vary with out discover.
About The Creator
Gregory, a digital nomad hailing from Poland, is just not solely a monetary analyst but in addition a priceless contributor to numerous on-line magazines. With a wealth of expertise within the monetary business, his insights and experience have earned him recognition in quite a few publications. Utilising his spare time successfully, Gregory is presently devoted to writing a e-book about cryptocurrency and blockchain.
Extra articles
Gregory, a digital nomad hailing from Poland, is just not solely a monetary analyst but in addition a priceless contributor to numerous on-line magazines. With a wealth of expertise within the monetary business, his insights and experience have earned him recognition in quite a few publications. Utilising his spare time successfully, Gregory is presently devoted to writing a e-book about cryptocurrency and blockchain.
