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Coin Edition 2025-02-12 15:29:00

Ripple and Galaxy Loaned MoonPay $160M On the Weekend TRUMP Launched

Ripple and Galaxy Loaned MoonPay $160M On the Weekend TRUMP Launched

Galaxy and Ripple contributed $160 million in loans to MoonPay. The blockchain companies intervened when MoonPay could not access its funds. The loan enabled MoonPay to carry out its responsibilities during TRUMP’s launch. According to reports, blockchain companies Galaxy and Ripple contributed $160 million in loans to MoonPay, helping them handle demands for the launch of TRUMP, Donald Trump’s official memecoin, on January 18. MoonPay struggled to access its fiat accounts during the weekend before Trump’s inauguration. A total $160 million loan from @galaxyhq and @Ripple played a key role in helping @moonpay handle demand from the launch of @realDonaldTrump 's official memecoin when $TRUMP was issued on Jan. 18. By @shauryamalwa . https://t.co/72EMzWWJya — CoinDesk (@CoinDesk) February 12, 2025 MoonPay’s Liquidity Challenge During $TRUMP Launch Apart from the weekend effect, the following Monday, the inauguration day, was a holiday. With offices closed, MoonPay’s lack of access to its funds extended and jeopardized its goal of securing the $100 million in liquidity required to meet TRUMP’s trading demand. Related: Trump Memecoins Thrive Ah… The post Ripple and Galaxy Loaned MoonPay $160M On the Weekend TRUMP Launched appeared first on Coin Edition .

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