MoonPay’s $160M Lifeline: How TRUMP Token Kept Soaring
Summary
The surge in purchases, particularly through the Moonshot app, quickly depleted MoonPays available funds.MoonPay President Keith Grossman described the situation as urgent. Grossman reached out to Galaxy Digitals Mike Novogratz, who quickly agreed to provide a loan. MoonPays team worked fast to complete the necessary paperwork and confirm it had the assets to repay the loan.However, even after securing the $100 million, demand continued to rise. The following day, MoonPay turned to Ripple Labs CEO Brad Garlinghouse for additional funding.Garlinghouse agreed to provide supportbut only if Novogratz approved. Once both parties agreed, Ripple sent $60 million to Galaxy, which then transferred the funds to MoonPay.The quick action from Galaxy and Ripple allowed MoonPay to continue processing purchases without disruptions.