Imagine a super popular digital coin, like a digital trading card, called TRUMP! It was made to celebrate a famous person. Lots of people wanted to buy it, making it very popular very quickly. But its popularity caused a big problem.
- A company called MoonPay couldn't handle all the requests to buy the coin.
- Two big cryptocurrency bosses, Mike Novogratz and Brad Garlinghouse, helped MoonPay with a huge loan so it could meet the demand.
- The TRUMP coin became super valuable, then lost a lot of its value.
- Some people are worried that this might break some rules.
| Fact | Number |
|---|---|
| Loan amount to MoonPay | $160 million |
| MoonPay registrations (weekend) | 750,000 |
| TRUMP coin initial market cap | ~$9 billion |
| TRUMP coin initial fully diluted value | ~$70 billion |
