13.02.2025 09:59
Okay, here's a re-written version of the news article, incorporating the key details with varied sentence structures and vocabulary, aiming for a richer and more engaging read:
**Amidst the fervor surrounding the launch of the Official Trump (TRUMP) meme coin, MoonPay, a cryptocurrency exchange, found itself navigating a tidal wave of trading volume, a situation it weathered with significant assistance from industry titans.** As revealed by MoonPay President Keith Grossman on the "When Shift Happens" podcast, both Galaxy Digital and Ripple Labs stepped in to provide crucial financial support during this period of unprecedented activity.
**The catalyst for this surge in activity was the release of the TRUMP meme coin on the Solana network, occurring just days before Donald Trump's inauguration.** This event ignited a frenzy within the crypto community; as the token went live on Friday, January 17th, capital poured in, rapidly inflating its market capitalization by billions within mere hours.
**Grossman elaborated that the TRUMP team had strategically directed traffic towards Moonshot, a self-custodial wallet that relies on MoonPay for seamless fiat-to-crypto conversions.** This exclusive partnership resulted in a dramatic escalation of trading volume on the MoonPay platform by the following morning.
**However, MoonPay encountered a critical challenge: its liquidity, essential for facilitating the deluge of TRUMP transactions, was tied up in BlackRock, mirroring the operational constraints of traditional financial institutions.** This meant that MoonPay's reserves were rapidly dwindling, and with the weekend hindering access to its own capital, the situation grew increasingly precarious. Complicating matters further, the Monday following the initial surge was a public holiday due to the inauguration, delaying access to funds even longer.
**In response to this crisis, Grossman reached out to Mike Novogratz of Galaxy Digital, urgently requesting a loan of at least $100 million in USD Coin (USDC) to maintain adequate liquidity for the TRUMP transactions.** Ultimately, Novogratz, along with Brad Garlinghouse of Ripple Labs, collectively extended $160 million in loans to MoonPay, providing a crucial lifeline during this period of intense market activity.
