Donald Trump-themed Coin Insiders Profit $3.8 Million After Former President's Reputation Fraud

Key Points:

• On-chain investigator ZachXBT revealed that insiders profited $3.8 million from the Donald Trump-themed coin RTR through suspicious trading activities.
• RTR saw a 95% drop in value after Eric Trump and Donald Trump Jr. denied any connection to the coin.

The Donald Trump-themed coin, Restore the Republic (RTR), has seen its value crash by 95% following revelations that it has no ties to the Trump family.

Insiders Profit $3.8 Million from Donald Trump-themed Coin Amid Fraud Allegations

This demonstrated that two of those addresses, namely 9G1ELG and GHoW2, were under one owner and received funds and liquidated them within a very short period. Data shows that it might also have been a rug pull project.

This dramatic decrease occurred after Eric Trump and Donald Trump Jr. took to the public to denounce the coin, terming it an unauthorized and misleading venture.

Kanpai Pandas NFT Price Drops Due to Controversial Donald Trump-themed Coin Promotion

The NFT series Kanpai Pandas was linked with the promotional RTR, and therefore, the floor price of the NFT series saw a huge crash. The instances were found where he had provoked outrage against Kanpai Pandas' founder and his team, also known as "Ice Bagz," who are believed to have promoted the tokens even before the Trump family officially confirmed the same.