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Cryptocurrency News Articles
Solana-Based Meme Coin Project Magaverse Donates $1M to Organizations Approved by President-elect Donald Trump
Jan 17, 2025 at 09:07 am
A Solana-based meme coin project called Magaverse has donated $1 million to organizations approved by President-elect Donald Trump.
The $1 million donation from the meme coin's developer, Lee Hutchinson, continued the trend of companies donating money to Trump-related causes.
Tech companies like Meta, Amazon, Robinhood Markets, and OpenAI have contributed $1 million to Trump's inaugural fund.
Other companies such as General Motors, Toyota North America, and Ford have also donated $1 million towards the president-elect's inauguration.
"We put our money where our mouth is," Hutchinson said in a statement released to International Business Times. "This was our way of saying thank you to a man who has not only saved America but also saved crypto."
Hutchinson, the developer behind Magaverse, published a post on X where he announced the $1 million donation.
WowToday, I'm proud to announce a $1M USD donation to Trump causes on behalf of Magaverse.
This is more than just supporting Trump
It's about supporting the future of America, the principles we believe in, and the movement that's upon us - The Magaverse.
When I started MVRS,... https://t.co/FFSYeqST24
Magaverse, a meme coin built on the Solana blockchain, has a community that often leverages the popularity of trends and internet culture to drive engagement.
In August 2024, Trump-themed meme coins made a splash in the cryptocurrency market, with meme coins and PolitiFi tokens (political meme coins) climbing to $12 million by June.
Megaverse has a market cap of $72.54 million with 1 billion tokens in circulation, reported CoinMarketCap.
Megaverse has a self-reported supply of 99,999,795 with a self-reported market cap of $7,611,499.
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