Guilty Verdict in Hush Money Trial

A verdict of guilt has been reached in the highly anticipated Hush Money trial. Former U.S. President Donald Trump has been found guilty on all 34 felony charges by a unanimous decision from a jury of 12 in New York. The sentencing is scheduled for July 11.

However, amidst this legal outcome, a crypto trader seized a lucrative opportunity, raking in over $167,000 through well-executed trades involving Trump-associated tokens, FreeTrump (FREE), and Never Surrender (TRUMP), which emerged shortly after the guilty verdict was delivered.

Unfolding of the Trades

Employing a strategic approach, the trader capitalized on the volatility of Trump-themed tokens, particularly FreeTrump and Never Surrender. In a span of just five hours, the trader converted these tokens into approximately 972 Solana (SOL) tokens, amounting to $167,000.

The trader initially invested 85 SOL (equivalent to $14,600) to purchase FREE tokens and subsequently offloaded them for 814 SOL (valued at $140,000), generating a profit of 729 SOL (equal to $125,000).

Furthermore, 72 SOL (worth $12,300) was utilized to procure TRUMP tokens. These were later sold for 315 SOL (worth $54,000), resulting in a profit of 243 SOL (equivalent to $42,000).

Political Implications on Crypto Traders

Although indirectly associated with Donald Trump, the surge in the MAGA (TRUMP) token has enriched a new cohort of millionaires within the burgeoning PoliFi crypto domain, blending politics, finance, and cryptocurrency.

As per on-chain data from CoinMarketCap, the TRUMP token has experienced a 75% surge over the past week. On May 21 alone, it surged by 14% subsequent to the Trump campaign's declaration of accepting crypto donations, including Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and Shiba Inu (SHIB).

Traders are leveraging the TRUMP token as a speculative investment intertwined with Trump's ongoing presidential campaign, fueling its notable recent upsurge.

Disclaimer: This content should not be construed as financial advice. Investments are speculative, and capital is subject to risks.