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TRUMP Token Sinks After Former U.S. President Is Found Guilty in New York
TRUMP dropped 35%, while Jeo Boden surged 20% in the aftermath.
Oleh Nick Baker
A jury finding Donald Trump guilty is more than just bad news for the former U.S. president: The announcement also smacked holders of the TRUMP meme coin.
The token sank as much as 35% after the verdict. Meanwhile, Jeo Boden, a meme coin inspired by President Joe Biden, soared 20%.
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Trump was found guilty on Thursday by a New York jury on all 34 counts. He was accused of falsifying business records. He's the first U.S. president convicted of a felony.
Over at Polymarket, the blockchain-powered prediction market, traders nonetheless continued to expect Trump to defeat Biden in the November election. Trump is well ahead – with 56% odds of winning, versus 38% for Biden – even after the verdict.
CORRECTION (May 30, 2024, 21:35 UTC): Fixes misspelling of TRUMP.
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Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
Yang perlu diketahui:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
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