MoonPay Secures $160 Million from Galaxy and Ripple to Provide Liquidity for the TRUMP Meme Token

MoonPay Secures $160 Million from Galaxy and Ripple to Provide Liquidity for the TRUMP Meme Token

Last weekend turned into a real test for MoonPay – due to the hype surrounding the launch of the TRUMP meme token, the company faced a serious liquidity shortage. With access to BlackRock accounts restricted due to banking holidays, the team had to act fast.

💸 How did it happen?
With overwhelming demand for TRUMP, MoonPay found itself short of $100 million USDC, which had to be secured within 12 hours. The company urgently reached out to Mike Novogratz, the head of Galaxy Digital.

🔹 A decision in two minutes: Novogratz immediately agreed, and within five minutes, the Galaxy team was already arranging the transfer.
🔹 Financial strain: To secure liquidity, even MoonPay’s president, Keith Grossman, and company founder Ivan Soto-Wright had to use personal assets, including selling their own BTC.
🔹 A second funding round: On Sunday, as demand for TRUMP continued to rise and a new token, MELANIA, entered the market, MoonPay needed an additional $60 million. This time, they turned to Brad Garlinghouse, CEO of Ripple.

⏳ There was no time for paperwork. Galaxy Digital proposed a simple solution: Ripple would send funds to Galaxy, and Galaxy would transfer them to MoonPay. As a result, the company received the necessary funds on time, with European transfers arriving on Monday and U.S. transfers on Tuesday. By January 21, MoonPay had fully repaid the loan.

💥 What does this mean for the market?
The demand for meme tokens is skyrocketing, and the liquidity market is becoming even more dynamic. Over the weekend alone, MoonPay’s user base grew by 750,000, proving once again that interest in crypto assets extends far beyond institutional investors.

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