Barely 24 hours to his swearing-in as the 47th President of the United States (US), t Donald Trump has unveiled his own cryptocurrency meme coin named
Barely 24 hours before being sworn in as the 47th President of the United States (US), Donald Trump has unveiled his own cryptocurrency meme coin named, $TRUMP.
The Sunday Telegraph reports that the president-elect will be sworn in on Monday, January 20 as the United States of America (USA) President following the completion of President Joe Biden’s tenure.
According to the reports, Trump’s meme coin quickly soared in market capitalisation to several billion dollars hours after it was launched on Saturday, January 18.
The venture was said to be coordinated by CIC Digital LLC, an affiliate of the Trump Organization, which previously sold Trump-branded shoes and fragrances across the US.
As of Saturday afternoon, hours after the launch, the market capitalisation for $Trump reached nearly $5.5bn, £4.5bn, according to CoinMarketCap.com.
CIC Digital LLC and Fight Fight Fight LLC, a company formed in Delaware earlier this month, owns 80% of the tokens. It is unclear how much money Trump might make from the venture.
“My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!” Trump wrote on his social media platform Truth Social as he announced the meme coin on Friday night.
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