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Trump Auctions 2024 Suit Pieces on Official Meme Coin Site

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President Donald Trump just dropped a wild merchandising bombshell on his official website for his meme coin and digital trading cards. Exactly 2,024 physical collectible cards embedded with real fabric swatches from his iconic debate suit.

Worn on June 27, 2024, during the first presidential debate and celebrated as his total “knockout” performance, these ultra-limited editions fuse memorabilia, NFTs, and full-on meme coin frenzy in classic Trump style.

This might very well be the first time an actual sitting president of the United States is selling his wardrobe as collectibles. Who profits from it? Most likely, Trump Family-affiliated ventures.

Although the company says it has no affiliation with Donald Trump, it does promote the product with a direct quote from the President.

Source: Collect Trump Cards.

From a crypto perspective, the mechanics are deliberate. Buyers can pay via credit card or WETH on Polygon, aligning tightly with Trump’s broader meme coin ecosystem. Some variants reference his July 13 mugshot following the assassination attempt, amplifying scarcity and narrative-driven demand.

It’s peak post-reelection mogul mode. Critics call it “tacky,” while supporters frame it as “genius” — iconic political moments repackaged into ownable assets.

The strategy builds on more than $10 million in past NFT sales and the momentum from his 2025 inauguration, reinforcing a brand that continues to convert attention into revenue.

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Sold out already? Previous drops disappeared within minutes. Expect the same pattern here, with MAGA loyalists and crypto-native traders moving quickly to secure supply.

As neobanks tokenize RWAs, Trump’s suit scraps blaze the trail for personal asset tokenization. Physical rarity crashes into digital speculation. The ultimate dealmaker strikes gold again.

The post Trump Auctions 2024 Suit Pieces on Official Meme Coin Site appeared first on BeInCrypto.

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Aave’s TVL Falls $8B After $293M Kelp DAO Hack

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Aave’s TVL Falls $8B After $293M Kelp DAO Hack

Total value locked on decentralized lending protocol Aave dropped by nearly $8 billion over the weekend after hackers behind the $293 million Kelp DAO exploit borrowed funds on Aave, leaving roughly $195 million in “bad debt” on the protocol and triggering withdrawals.

Data from DeFiLlama shows that Aave’s TVL fell from about $26.4 billion to $18.6 billion by Sunday, losing the top spot as the largest DeFi protocol. 

Aave v3’s lending pools for USDt (USDT) and USDC (USDC) are now at 100% utilization, meaning that more than $5.1 billion worth of stablecoins cannot be withdrawn until new liquidity arrives or borrows are repaid. 

$2,540 is available to be withdrawn from the $2.87 billion USDT pool on Aave v3 at the time of writing. Source: Aave

Aave’s TVL fall shows how rapidly risk from a single security incident can spread throughout the broader, interconnected DeFi lending market, potentially leading to a severe liquidity crisis.

The incident began on Saturday when hackers stole 116,500 Kelp DAO Restaked ETH (rsETH) tokens worth about $293 million from Kelp DAO’s LayerZero-powered bridge and used them as collateral on Aave v3 to borrow wrapped Ether (wETH).

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Crypto analytics platform Lookonchain said the move created about $195 million in “bad debt” on Aave, which contributed to the Aave (AAVE) token tanking nearly 20% from $112 on Saturday at 6:00 pm UTC to $89.5 about 25 hours later. 

Lookonchain noted that some of the largest crypto whales to withdraw funds from Aave were the MEXC crypto exchange and Abraxas Capital at $431 million and $392 million, respectively.

Source: Grvt

Several crypto networks and protocols tied to rsETH or the LayerZero bridge have paused use of the bridge until the problem is resolved, including DeFi platform Curve Finance, stablecoin issuer Ethena and BitGo’s Wrapped Bitcoin (WBTC).

Aave has frozen several rsETH, wETH markets

Shortly after the Kelp DAO exploit, Aave said it froze the rsETH markets on both Aave v3 and v4 to prevent any suspicious borrowing and later stated that rsETH on Ethereum mainnet remains fully backed by underlying assets.

WETH reserves also remain frozen on Ethereum, Arbitrum, Base, Mantle and Linea, Aave said.

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This incident marks the first significant stress test of Aave’s “Umbrella” security model, which was introduced in June 2025 to provide automated protection against protocol bad debt while enabling users to earn rewards.

Related: Aave DAO backs V4 mainnet plan in near-unanimous vote

Earlier this month, the Bank of Canada found that Aave avoided bad debt in its v3 market by using overcollateralization, automated liquidations and other strategies that shifted risk to borrowers.

In comments to Cointelegraph, Aave defended its liquidation-based model, framing it as a core safety mechanism that protects lenders while limiting downside for borrowers.

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It comes as Aave parted ways with its longest-standing DeFi risk service provider, Chaos Labs, on April 6, following disagreements over the direction of Aave v4 and budget constraints.

Magazine: Are DeFi devs liable for the illegal activity of others on their platforms?