A few days before President Trump’s inauguration, he hosted a “crypto ball” in Washington, D.C. That night, he unveiled his very own meme coin—a kind of digital asset that has gained a reputation for facilitating scams.
A few days before President Trump’s inauguration, he hosted a “crypto ball” in Washington, D.C. That night, he unveiled his very own meme coin—a kind of digital asset that has gained a reputation for facilitating scams. Soon after, first lady Melania Trump also launched her own meme coin.
After its launch, Trump’s coin’s market capitalization reached billions of dollars.
This isn’t the first time meme coins have gotten a lot of attention—you might remember Elon Musk joked about another one called Dogecoin on SNL in 2021—but it is the first time that this technology has been used by a sitting president. So what exactly is a meme coin anyway? How does the blockchain play into all this? And how might a president use it differently than an internet celebrity?
To find out more, Flora Lichtman talks with Liz Lopatto, a senior writer at The Verge who covers cryptocurrency and business, about how this market started, how Trump could use meme coins, and where the crypto market could go next.
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