Renowned political figure Roger Stone, known for his association with former President Donald Trump and his history of legal entanglements, has thrown his weight behind the $TRUMP memecoin, marking a significant endorsement for the cryptocurrency.
Stone, a self-proclaimed ‘Trump Loyalist’ and former Trump campaign adviser, announced the partnership via X, asserting that the $TRUMP coin holds a prominent position in Trump’s cryptocurrency portfolio.
Arkham Intelligence’s analysis reveals that a substantial portion of tokens in Trump’s wallet originated from an Ethereum address linked to the Ethereum Name Service (ENS) name “magafund.eth.” Notably, these tokens were transferred to Trump’s wallet directly from the deployer.
Despite claims by ‘MAGA Memecoin,’ the group behind the token, that there were no airdrops, Trump’s wallet received a significant token allocation from the deployer shortly after a large transaction from ‘magafund.eth.’
In an effort to ascertain whether Trump acquired these tokens through purchase or airdrop, Nosisnews has reached out to ‘MAGA Memecoin’ representatives Shawn Farash and Steven Steele for clarification.
It’s important to highlight that while the $TRUMP coin enjoys endorsements from Trump’s adviser and utilizes Trump’s likeness and name, it explicitly states that it is not officially affiliated with or endorsed by Donald J. Trump.
This isn’t Trump’s first foray into the cryptocurrency realm. Previously, he has launched NFT collections for fundraising purposes, while his wife, Melania Trump, also has her own NFT collection, which has faced allegations of wash-trading.
Stone, too, has found himself connected to the crypto industry in the past, with reports suggesting his involvement in a bitcoin-related pardon negotiation. Additionally, Stone has endorsed various crypto projects, including the now-defunct Common Cents Coin, described as an exclusive community for conservatives.