TRUMP favored on Chinese crypto exchanges in early trading
China gave a curiously generous amount of support to US President Donald Trump’s largest crypto project, TRUMP. In the critical hours of its weekend debut, Chinese traders and Chinese-founded exchanges led trading activity in the memecoin. Around 9pm New York time on Saturday, January 18, Trump launched TRUMP on Solana’s blockchain via Moonshot, a fiat onramp and wallet provider. His website accepted both crypto and fiat denominations, including credit and debit cards. Debuting on non-custodial exchanges like Jupiter and Raydium, the token rallied from below $1 to over $75 overnight — imputing a $75 billion fully diluted valuation on its maximum supply of 1 billion tokens. Due to the prominence of what had quickly become the world’s second-largest memecoin — ranking by Sunday morning beneath only Dogecoin (DOGE) itself — centralized exchanges scrambled to list it. China led the charge. Chinese crypto exchanges lead TRUMP listings Although TRUM...