TRUMP Memecoin Listings Drive Record Profits For Crypto Exchanges, Despite Regulatory Concerns

US President Donald Trump’s cryptocurrency venture, the Official Trump (TRUMP) memecoin, has generated multimillion-dollar gains for major crypto exchanges, according to new analysis. Trading fees from TRUMP have accumulated to as much as $172 million for platforms including Binance and Coinbase, primarily attributed to listing speeds and hype around the politically themed token.

Fast Listings Ignored Concentrated Supply Concerns

Analysis by Reuters highlights a stark comparison between the exchange approval timelines for TRUMP and those for other memecoins. While listing rival tokens like Pepe (PEPE) and Bonk (BONK) typically took around 129 days on average for the 10 analyzed exchanges, TRUMP was typically approved in just over four days.

In listing TRUMP, several platforms reportedly disregarded prior concerns about the coin’s trading structure. Notably, citing CoinGecko data, approximately 80% of the TRUMP coin’s supply was declared held by the Trump family and its partners. Regulatory bodies and exchanges worldwide often flag extreme concentration as a red flag.

Despite this concentration, exchanges like Coinbase, Binance, and OKX expedited listings, citing growing demand. Coinbase further categorized the coin as an “experimental” token, emphasizing the inherent risks but still enabling trading.

Mixed Financial Outcomes For Investors

The launch has been highly polarized financially for investors. According to the Reuters findings, while 45 wallets reportedly made approximately $1.2 billion in aggregate trading profits from TRUMP, the vast majority of 712,777 wallets trading the coin suffered losses exceeding $4.3 billion.

NYDFS Warning Overshadowed Early Moves For Some

The New York State Department of Financial Services (NYDFS) had issued warnings as early as January regarding memecoins, pointing out risks like consumer losses and market manipulation. Coinbase partially addressed this by restricting New York residents after the NYDFS issued its notice, even before TRUMP’s launch.

Several exchange CEOs, including Gracy Chen of Bitget, acknowledged that overwhelming retail demand for the politically connected asset outweighed concerns over supply concentration. This sentiment highlights a potential tension between profit motives and regulatory caution in the spot cryptocurrency market.