Monday, October 3, 2022

Donald Trump Caused Crypto Investors to Lose $ 11 Million

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Futures contracts opened specifically for the US presidential election are about to expire. The futures contract’s value opened exclusively for Biden starts at $ 1, while it is trading at $ 0.993 near the end. The value of his contract opened for Trump fluctuates between $ 0.04 and $ 0.007, which indicates that the related token is almost worthless.

Crypto investors trusting Trump at $ 11.3 million loss

It is also seen that Trump’s, Trump-focused futures contracts have caused a loss of approximately $ 11.3 million for investors. It is known that starting official duty is 20 January 2021. Although it is certain in unofficial sources that Donald Trump lost the election, the legal process continues. Trump stressed that he would file a lawsuit, stating that the election was fraudulent, and a change could be seen in the $ 11.3 million loss. A new contract called TRUMPFEB, launched by FTX, also caused serious damage to investors. The token’s value, which was launched last Thursday, was around $ 0.14, but after Biden’s victory announcement, it fell to $ 0.078. It is seen that one of the sectors most affected by this is the cryptocurrency sector and FTX investors.

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