Ripple and Galaxy Digital Provided $160M Loan to MoonPay Amid Trump Memecoin Surge

Crypto exchange MoonPay secured $160 million in emergency funding from Ripple and Galaxy Digital to handle overwhelming demand for Donald Trump’s official memecoin following its January 18 launch, according to a recent podcast revelation.

TRUMP Token’s Meteoric Rise

The TRUMP token was introduced just days before Trump’s swearing-in ceremony, making him the first U.S. president associated with a memecoin. Within 48 hours, the token’s market capitalization soared from $200 million to over $10 billion, gaining spot and futures listings across multiple exchanges and recording more than $20 billion in trading volume.

Liquidity Challenges for MoonPay

The sudden surge in trading created liquidity challenges for MoonPay, especially since the launch occurred on a Saturday, restricting access to fiat reserves. With a public holiday the following Monday, MoonPay required an urgent $100 million in liquidity to sustain operations.

Galaxy Digital and Ripple Step In

MoonPay’s leadership—President Keith Grossman, CEO Ivan Soto-Wright, and CFO Mouna Siala—sought financial support from Galaxy Digital’s Mike Novogratz. Following an agreement, the company verified its repayment capability with a BlackRock executive, as MoonPay held its reserve funds with the asset manager.

As demand continued to grow, fueled by the introduction of Melania Trump’s MELANIA token, MoonPay required an additional $60 million. Grossman reached out to Ripple CEO Brad Garlinghouse, who approved the loan after due diligence, including Wright’s personal asset pledge and assurance of no liens on MoonPay’s reserves.

Repayment and Market Reaction

MoonPay repaid both loans in full on January 21, the first business day after the long weekend, once it regained access to its funds. The exchange also registered 750,000 new users that week, underscoring the memecoin’s impact.

Despite its explosive debut, TRUMP’s price has since dropped by 79% from its January 19 peak, highlighting the volatility of memecoins.