How Ripple, Novogratz and MoonPay Helped Trump&#039, s Solana Meme Coin Succeed

During the trip of its release, MoonPay, a bitcoin payments company, secured a vital$ 160 million in mixed loans from Galaxy Digital and Ripple to support the soaring demand and purchases of President Donald Trump’s standard Solana meme coin, TRUMP. &nbsp,

The couple’s engagement, which was detailed by the MoonPay President Keith Grossman on the” When Shift Happens” radio, required MoonPay CEO Ivan Soto-Wright to” signal away his life” and the business to “promise” it had no liabilities on its supply money. &nbsp,

” The volumes were just gigantic”, Grossman said,” All of the liquidity that we use to sort of wire the crypto was locked in BlackRock accounts in a traditional finance sort of manner … and it’s Saturday”.

The blockchain funds it did include in nice were quickly being used thanks to the course of the Trump image gold team, which allowed users to use Moonshot, a smart meme coin trading app, for which MoonPay is the exclusive crypto payments provider.

Moonshot makes the buying of meme coins simpler by allowing users to sign up with an email address and by enabling them to use credit or debit cards to fund their accounts. The app avoids the difficulties that crypto beginners might encounter when trading on-chain using decentralized exchanges, making it a good choice for beginners.

Therefore, when new users were looking to buy the TRUMP token on the app, they were exchanging their funds for MoonPay’s crypto reserves, notably stablecoin USDC, which was then used to purchase Trump’s meme coin on the Solana blockchain. &nbsp,

If the business didn’t have the money to continue facilitating purchases of the token, new customers, of whom MoonPay claims to have onboarded 750, 000 during the week of the TRUMP launch, might not have been able to access the token. That may have hindered the initial growth of the token and had an impact on other MoonPay users as well.

Grossman said the app would’ve said,” Sorry, doesn’t work”, had MoonPay run out of funds.

Grossman claimed that he and MoonPay CFO Mouna Siala worked together to determine the amount of funding needed in order to avoid the issue, with the initial investment estimate of$ 50 million quickly increasing to$ 100 million after the initial token’s growth was evaluated. &nbsp,

With its reserves locked in traditional financial systems, Grossman said he texted Galaxy’s Mike Novogratz, and after a brief conversation, a loan was agreed upon and underway, forcing MoonPay’s teams to scramble on paperwork while verifying it had the funds to pay back a loan thanks to a connection through BlackRock.

But the$ 100 million wasn’t enough. Grossman claimed that MoonPay turned to Ripple Labs CEO Brad Garlinghouse as demand for TRUMP grew the day after.

” We underestimated the demand of this Trump token”, the MoonPay team told Garlinghouse, per Grossman.

The Ripple chief agreed to help if MoonPay could get Novogratz to agree to the arrangement, given the previous deal in place—and ultimately, Grossman said, the additional$ 60 million was sent by Ripple to Galaxy, and then ultimately transferred to MoonPay. &nbsp,

According to Grossman, MoonPay was able to regain access to its funds as traditional financial players started operating on Monday and Tuesday in Europe and the United States, paying back its loans in full by Tuesday afternoon. &nbsp,

More than$ 20 billion in trading volume was on average seen for the TRUMP token’s first five days of release, according to CoinGecko’s data, which quickly increased to a fully diluted valuation of more than$$ 73 billion in less than 48 hours.

Trump’s meme coin gained spot listings from reputable centralized exchanges like Binance and Coinbase shortly after its launch, making it easier for new users to access the token.

A MoonPay representative confirmed Grossman’s account was accurate to , even though Galaxy and Ripple representatives did not respond to ‘s requests for comment right away.

TRUMP is now trading at$ 15.37, down more than 79 % from its all time high.