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Kyle Sandilands Made $700K Overnight with Trump Coins—Here’s How!

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Kyle Sandilands has revealed how he made a jaw-dropping $700,000 in a single night.

The 53-year-old radio host asserted that he had put money into a digital currency known as $Trump, which was recently promoted, mere days before the new presidential term begins.

A meme cryptocurrency built on the Solana platform, named after someone thought to be amusing, is now being advertised on Donald Trump’s social media platforms.

On The Kyle and Jackie O Show, Kyle boasted about a substantial return he earned by putting money into a popular internet currency (meme coin), a type of investment that financial advisors often caution is extremely high-risk.

Kyle said he pumped $10,000 into $Trump coin over the weekend and has already made $700,000.

On a Saturday evening, surrounded by a few friends at my place, possibly around 2 or 3 in the morning, Trump introduced his Trump Coin, he stated.

‘I jumped in with $10,000 and I’ve made $700,000 by the time I woke up.’

When questioned about whether he had cashed out his earnings, Kyle emphatically stated that he has not done so, and instead continues to hold onto his investment in the $Trump entity.

After the debut of $Trump, some specialists have raised doubts about whether hackers might be involved in this new project, and others have voiced their concerns over investing in meme coins, considering them extremely risky.

On Friday evening, updates from both Trump’s former Twitter account (now referred to as X) and Truth Social revealed the launch of the $Trump meme coin, which operates on the Solana blockchain.

As a die-hard enthusiast, I’m all about those digital currencies known as meme coins! They carry catchy names inspired by hilarious characters, famous personalities, trending art, or viral humor – it’s like a fun, financial tribute to our popular culture.

Dogecoin (DOGE) was initially designed as a humorous digital currency, poking fun at the concept of cryptocurrencies. It showcases an adorable caricature of a Japanese Shiba Inu dog named Kabosu, which captured the hearts of many internet users due to its amusing and endearing nature.

Meme coins, which experts deem highly speculative, have the potential to yield substantial returns, particularly for their inventors. Typically, the total value of these meme coins is measured in billions.

After the debut of the $Trump token, its worth skyrocketed to a staggering $13 billion, and trading volumes are swiftly approaching $13.6 billion as per GeckoTerminal’s latest data.

At the time of publication, the token was trading at $69.46. 

initially surfaced on former President Trump’s Truth Social platform, instructing his supporters to obtain the token via the GetTrumpMemes webpage.

A similar post arrived on his X account shortly afterwards.

The article, showcasing a picture of the emblem depicting Trump raising his right hand high while the phrase “Fight, Fight, Fight” is displayed, declared: ‘A fresh Trump Meme has arrived! Let’s rejoice in what we believe in: victory!’

‘Join my very special Trump Community. Get your $Trump now. Go to — Have Fun!’

As stated on the GetTrumpMemes site, the fungible token functions as an officially branded Trump merchandise item. It can be obtained either through Moonshot or by using conventional payment options.

The depicted image shows the newly elected President, captured in the immediate aftermath of an assassination attempt during his campaign rally held in Butler, Pennsylvania, on July 13, 2024.

The website disclosed that tokens are produced via the cryptocurrency platform Solana, with a total of one billion dollars’ worth of $Trump becoming accessible over a span of approximately three years.

On Trump’s X account, a post sparked numerous comments from his nearly 100 million followers, with some speculating whether the incoming president might have been hacked.

1. I’m positively certain this is too good to be true; could it possibly be genuine?

or

2. This looks suspiciously like a hoax, but I sincerely hope it isn’t! Is there any chance that it’s the real deal?

or

3. It seems almost unbelievable; is it possible my account has been compromised?

Others however were welcoming of the idea that $Trump could be a good investment move. 

One supporter suggested: ‘Invest all your life savings in $TRUMP on the Solana platform, and you might achieve a similar level of success as he did!’

Specialists are now joining the discussion about whether the project is authentic or a product of hackers managing to infiltrate Donald Trump’s social media platforms.

According to Slorg, who is passionate about cryptocurrency and works at the Jupiter crypto exchange, it has been confirmed that $TRUMP is legitimate, as reported by Crypto Briefing.

I usually avoid discussing coins on Twitter, and I want to make it clear that this isn’t an advertisement. However, for everyone’s safety, I want you to know that this is the authentic Trump coin. It has been verified by our strict standards at Jupiter.

Currently, Polymarket, a platform favored by cryptocurrency traders for predicting events and monitoring trends, indicates only a 3% likelihood that Trump’s accounts may have been compromised.

In recent times, meme-based cryptocurrencies have been gaining traction. Besides Dogecoin, there are other examples like PEPE, derived from the cartoon frog Pepe; PNUT, inspired by Peanut the Squirrel; a squirrel orphaned in New York, whose euthanasia sparked controversy, and MOO DENG, based on a mischievous pygmy hippo from Thailand that gained fame online.

James Ramsden KC, a prominent figure in the field of cryptocurrency and digital asset disputes, as well as a co-founder at legal practice Astraea, labeled meme coins as a ‘deceptive mirage’ and an ’empty deception.’

Recently, he warned TopMob, saying, “I advise staying far from them. The allure is deceptive and potentially hazardous.

This investment opportunity appears to be highly speculative, as its success relies largely on those who introduced it to the market.

I believe it’s an outright scam with no real worth or utility. Just like many other digital assets, it concerns me greatly.

It seems to me that labeling them like that is quite inappropriate. Their worth is not determined by how they interact with algorithms on social media, which can be rather unsubstantial.

It’s not the meme coins themselves that draw people towards a site; rather, it’s the humor, the intrigue, and other engaging content that catch their attention. Meme coins merely serve as an indicator of traffic or popularity for a site or concept.

It’s possible for anyone to develop their own meme coin, which sets it apart from established cryptocurrencies such as Bitcoin. Unlike Bitcoin where new coins can be generated through mining, meme coins have a predetermined number already issued and the creator or initial owners retain a portion of them.

As a devoted follower, I’ve noticed that when my meme coins gain widespread attention and go viral, it opens up an opportunity for me to cash in by selling them. This action can result in personal income for me. However, such popularity might also lead to a decrease in the coin’s value, potentially impacting negatively on the investments of others.

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2025-01-20 00:19

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