President-elect Donald Trump has introduced a new cryptocurrency token on the eve of his inauguration

The new meme coin has soared in value — above $12 billion according to some accounts — potentially raising Trump's net worth even further and raising questions about his violations of White House norms.

President-elect Donald Trump introduced a new cryptocurrency token on the eve of his inauguration.

The new meme coin has skyrocketed in value — above $12 billion by some accounts — as Trump prepares to enter the White House, potentially raising his net worth even further and sparking debate over his adherence to White House norms.

“Join my very special Trump Community to celebrate everything we stand for: WINNING!” Trump wrote in a social media post advertising the new tokens. The coins were promoted with an image of Trump holding a fist up, superimposed over the words “FIGHT FIGHT FIGHT,” a reference to Trump’s response to the attempt on his life at a political rally in Pennsylvania last summer.

“Have Fun!” Trump told supporters as he promoted the coin. The website selling the tokens claims they are intended to be a show of support, not an investment opportunity, the AP reported.

But people are hoping to cash in on the coins — which began selling at $10 each — and the price had reached $70 by Sunday morning.

The launch of the coin is being hailed by some crypto advocates as a sign of Trump’s support for the industry after years of regulatory crackdowns under President Biden. Trump has promised to be a more crypto-friendly chief executive, naming industry enthusiasts to his cabinet.

But critics argue that the meme coin could allow special interests and foreign governments to attempt to buy influence with the president, the report adds.

A Trump Organization affiliate called CIC Digital and a related firm handling the launch, Fight Fight Fight LLC, own about 80% of the memecoin, according to The Daily Beast.

The investors’ holdings in the venture will unlock over a three-year period, with 200 million tokens available straight away and 1 billion in circulation over the next three years, the report adds.

“The public’s gonna get wrecked and obviously the people that are going to make the most money are the insiders,” cryptocurrency journalist and commentator Stephen Findeisen said in a video Saturday.

The price of bitcoin, the most popular cryptocurrency, continues to approach record levels ahead of the inauguration.

Trump is expected to issue an executive order soon after taking office designating cryptocurrency as a national priority. It would also instruct government agencies to work closely with the crypto industry, and establish a crypto advisory council that will push for the industry’s policy priorities.

Earlier this month, Ripple CEO Brad Garlinghouse noted a “Trump bull market” in a post on X, saying his company signed more deals in the six weeks following the election than it signed in the prior six months.

“2025 is here and the Trump bull market is real,” Garlinghouse wrote.