Blockchain

TRUMP token sinks after former US president is found guilty in New York

Published

6 months ago

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A jury finding Donald Trump guilty isn’t just bad news for the former US president: the announcement has also affected holders of the TRUMP meme coin.

The token plunged as much as 35% following the verdict. Meanwhile, Jeo Boden, a meme coin inspired by President Joe Biden, rose 20%.

Trump has been found guilty Thursday by a New York jury on all 34 counts. He was accused of falsifying company documents. He is the first US president convicted of a crime.

At Polymarket, the blockchain-based prediction market, Merchants However, he continued to expect Trump to defeat Biden in the November elections. Trump is well ahead – with a 56% chance of victory, compared to Biden’s 38% – even after the verdict.

CORRECTION (May 30, 2024, 9:35 PM UTC): Fixed TRUMP spelling errors.

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