Crypto President: Donald Trump's cryptocurrency $Trump ha been valued at £12bn, far more than M&S which has been around for 141-years

The soaring value of Donald and Melania Trump's crypto currency, in awe of the President's second White House coming, is one of the more bizarre aspects of his impact

The soaring value of Donald Trump’s cryptocurrency, in awe of the President’s second White House coming, is one of the more bizarre aspects of his impact on the world of finance.

It is no secret that Trump and his efficiency czar Elon Musk think that computer-generated currencies are the bee’s knees.

Trump wants the next boss of the Securities and Exchange Commission to be crypto friendly, erasing the stymied efforts of the last chairman Gary Gensler to restrict access.

That proved a hopeless enterprise with the value of bitcoin soaring another 4.2 per cent to $109,071 yesterday.

Despite the black marks against crypto – the mystery behind mining, the enormous energy requirement, dodgy exchanges, and the collapse of fraudster Sam Bankman-Fried’s FTX – it continues to soar.

Along the way, crypto enriches retail investors and hedge funds who never miss a get-rich-quick trading experience.

Crypto President: Donald Trump's cryptocurrency $Trump ha been valued at £12bn, far more than M&S which has been around for 141-years

It also, as the US Justice Department has ruled, provides a haven for crooks and terror networks.

$TRUMP, launched by CIC Digital, a Trump Organisation company, takes the whole crypto scam to a new level.

Selling Trump-branded sneakers may be tawdry and plastering your name over hotels and golf courses egotistical and exploitative.

But for the leader of the free world to profit from power and global fame by developing his own currency raises ethical dilemmas.

A critical part of the president’s job is to preserve the dollar as a store of value and unit of exchange.

Trump is often described by supporters as ‘transactional’ because of his love of doing deals. $TRUMP and $MELANIA take matters to a whole new place with the President’s crypto valued at £12billion, far more than M&S, which has been around for 141 years.

Popular it may be, but Trump crypto blurs the line between the President’s government role and his efforts to enrich his already prosperous family from power.

What price then for £STARMER crypto? If gilt yields and the pound offer any clue, then there will be no great buying panic on the exchanges.