President Donald Trump Addresses the Official Trump (TRUMP) Meme Coin Launch

Over the weekend, President Donald Trump got tongues wagging with the surprise launch of a Solana-based meme coin, Official Trump (TRUMP), just days before his inauguration.

United States President Donald Trump has addressed the launch of his Solana (SOL)-based meme coin, Official Trump (TRUMP), for the first time.

The president admitted to launching the meme coin but claimed to be unaware of its performance during a press conference on Tuesday, January 21. This follows the surprise launch of the token days before Trump's inauguration.

When asked about the TRUMP meme coin by a reporter, Trump said, “I don’t know where it is. I don’t know much about it other than I launched it. I heard it was very successful; I haven’t checked.”

However, upon being informed that the meme coin had brought him billions of dollars in a short span of time, at least on paper, the president downplayed its significance, calling it “peanuts” for SoftBank CEO Masayoshi Son, OpenAI CEO Sam Altman, and Oracle CTO Larry Ellison.

The conversation took place after a meeting with the three tech executives regarding Stargate, a planned $500 billion AI joint venture.

TRUMP Emerges as the Most Successful Meme Coin Launch

The launch of TRUMP over the weekend was met with immense success, quickly propelling it to become the most successful meme coin launch ever.

Within days, its market capitalization surpassed $13 billion, thanks to the rapid support of several crypto exchanges and trading platforms. This includes Robinhood, which is known for its stringent criteria in selecting the assets it offers.

A significant consequence of this success is that it pushes Trump notably higher on the world's wealthiest persons list, considering that an entity controlled by him reportedly holds 80% of the token supply (800 million TRUMP).

This stash is currently valued at $34.4 billion at the prevailing market price of about $43 per coin. However, it is subject to a three-year vesting period, which will allow him to access and potentially sell an average of 24 million tokens per month, currently amounting to $1.08 billion.

The meme coin has faced criticism from within and outside the crypto community regarding ethical concerns. Despite this, First Lady Melania Trump also launched her own meme coin, Official Melania Meme (MELANIA), which achieved similar success.

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