Chinese Traders Made Millions from TRUMP and Coinbase in the Philippines? Asia Express

Prominent Chinese traders are making millions from the US President’s memecoin

Chinese-language trading accounts generated millions of dollars after the launch of US President Donald Trump’s memecoin.

Trump launched his token days before his presidential inauguration on January 20. The memecoin’s market capitalization skyrocketed, briefly placing it among the top 15 cryptocurrencies before a companion token, named after First Lady Melania Trump, debuted.

Mandarin-language blockchain media outlet Blockbeats Analyzed Trading data to report that TRUMP token price increases coincided with Asian trading hours.

Chain Insight, a Chinese-language portfolio tracking tool for key opinion leaders, Solana has 12 addresses identified Prominent Mandarin-speaking traders named top earners from TRUMP token rally. According to their rankings, all 12 accounts made over $1 million in profits, with one trader, known as 0xSun, amassing $27 million. In total, these wallets generated a staggering $121 million in profits, according to a January 22 Chain Insight update.

Detailed profit and loss analysis 28 addresses revealed In total net profits exceeded $10 million, a threshold reached by five of the Chinese-speaking traders featured in Chain Insight’s rankings.

The token’s debut was not without controversy. It has been condemned by critics from the cryptocurrency world and political spheres.

Congresswoman Maxine Waters accused the currency of being a tool to circumvent national security and anti-corruption laws.

“Buyers could include major corporations, allied nations that are being pressured to show their ‘respect’ for the president, and our adversaries, like Russia and China, who have much to gain from influencing a Trump presidency,” she added. He said in a statement.

“Anyone globally, even individuals sanctioned by the United States or banned from our capital markets, can trade and profit from Trump dollars through many unregulated platforms.”

Vitalik Buterin, co-founder of Ethereum, believes that “political coins” pose a “danger to democracy.”

Although the token was announced on the president’s official

Brian Armstrong goes shopping in SEA

Coinbase CEO Brian Armstrong appears to have his sights set on Southeast Asia as the US cryptocurrency giant considers expanding its regional footprint.

Armstrong was recently spotted In Davos, Switzerland, during the 2025 World Economic Forum, where he met with Ralph Recto, Philippine Secretary of Finance.

According to the Department of Finance, Coinbase has initiated a meeting to discuss a possible entry into the Philippines.

The move raises eyebrows, as it contradicts previous indications that the exchange had little interest in expanding into Southeast Asia. However, there were some hints.

At the December 2024 Cryptocurrency Conference, Coinbase revealed that Coinbase Wallet and its Base Layer-2 network are actively supporting Southeast Asian developers in building applications, including those related to future stablecoins pegged to the Thai and Philippine currencies.

In addition, A Report commissioned by Coinbase for Q4 They analyzed citizens’ perceptions about their financial systems and the role cryptocurrencies can play in improving them. The Philippines was one of four countries studied, along with Argentina, Kenya and Switzerland.

Coinbase already has a foothold in Southeast Asia through its Singapore branch. Affiliate I recently obtained a license To operate its digital payment token business without transaction limits.

Line adopts the Telegram scheme with the Mini DApp gateway He releases

Line Next, the Web3 arm of Japanese messaging app Line unveil Its DApp portal features “small decentralized applications” powered by Kaia, a blockchain formed by the merger of Klaytn from South Korean messaging company Kakao and Finschia from Line.

The DApp portal allows users to access Web3 services within the Line Messenger app. Mini DApps include categories such as gaming, social media, and digital content. It also comes with an integrated wallet where users can earn rewards and trade crypto assets.

Line’s move reflects a trend popularized by Telegram, whose messaging platform claims approx Billion active users.

Telegram’s integration of widgets into its ecosystem has proven to be a huge hit among cryptocurrency enthusiasts.

Last year, games like Notcoin and Hamster Kombat reportedly attracted millions with airdrop incentives and simple gameplay. These widgets are often integrated with The Open Network (TON), a blockchain designed by Telegram, which has contributed to the increase in TON blockchain accounts.

At the beginning of 2024, TON had less than 4.5 million accounts, which is a continuing number Since it rose To more than 137.8 million as of January 23.

Indian business school launches its own blockchain currency

Indian business school Birla Institute of Management Technology (Bimtech) has unveiled its blockchain-based digital currency, ‘Bimcoin’.

Bimtech now stands alongside IIT Madras as a leader in blockchain adoption among Indian educational institutions. Last year, IIT Madras deployed blockchain technology for student elections, using internal software to enable transparent and remote voting.

College of Business Currency Focus On campus transactions between students, vendors, and administrators. The architecture of a permissioned blockchain draws inspiration from central bank digital currency (CBDC) models rather than cryptocurrencies based on public blockchain networks such as Bitcoin.

This is in line with the broader regulatory position in India. The Reserve Bank of India, the country’s central bank, has long maintained a negative view of cryptocurrencies, with previous attempts to impose a ban. Recently, Indian regulators reportedly consulted experts advocating for a cryptocurrency ban to pave the way for the country’s central bank digital currency, which was on its way to implementation. Pilot phase since 2022.

Subscribe

The most engaging reads on blockchain. It is delivered once a week.

Johan Yuen

Johan (Hysop) Yuen is a Cointelegraph staff writer and multimedia journalist who has been covering blockchain-related topics since 2017. His background includes roles as an assignment editor and producer at Forecast, as well as technology and policy-focused reporting positions at Forbes and Bloomberg BNA. He has a degree in journalism and owns Bitcoin, Ethereum, and Solana in amounts that exceed Cointelegraph’s disclosure threshold of $1,000.