Explosive! Trump's crypto project raked in tens of millions of dollars in one day!
On October 15, the Trump family's DeFi project WLFI was officially launched for public sale. It had been preheated for nearly two months. Trump's family of four joined the battle, and he himself appeared on Space and X many times. The token sales on the first day were more than 10 million, far from the target of 300 million US dollars. The market is desensitized to its promises, bets are shrinking, and the project is controversial for nepotism.
20 days before the election, the appearance of crypto projects at this time seems to have a different meaning!
Some analysts think that Trump's family's crypto project is his way to expand fundraising, which can be regarded as an alternative political donation. The Republican Party's fundraising is not as smooth as the Democratic Party. Data shows that Harris's team raised a lot of money and quickly, and Trump fell behind a lot. From the perspective of funding channels, Harris's is more efficient. So it is reasonable for Trump to engage in crypto channels on the eve of the election. The success or failure of this project has a lot to do with his election.
He is now launching a crypto project, which shows his inclination towards crypto and can win support in the crypto field. Harris is leading in the polls, but Trump has overtaken her in the crypto prediction market, and he has also regained his advantage in key swing states. If this continues, he will not be far from winning the election.
In this campaign, Trump has a key supporter, his old crypto friend Elon Musk. From July to September, Musk donated $75 million to the committee supporting Trump, becoming one of Trump's major donors. But strangely, Musk was dissatisfied with Trump's withdrawal from the climate agreement before, and publicly supported the Democratic Party. In 2022, the two of them also sprayed each other. But after Trump was assassinated in July this year, the two suddenly became good. In August, Musk talked with Trump in Space to help him promote, and in October he went to the campaign site to stand on the platform and even spent money to buy votes. Coupled with high donations, Musk is now fully supporting Trump.
Personal opinion: Musk and Trump have changed from spraying each other to key supporters, which is an amazing change. The reason may be that Trump was stabbed or that their interests are consistent. Musk's support helped Trump's campaign, but the stability of the relationship and its impact on the results remain to be seen. His spending money to buy votes has raised questions about his fairness, and the changes in their relationship have added drama and uncertainty to the campaign.
