- 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.
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.
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