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Cryptocurrency News Articles
President-elect Donald Trump Launches His Own Cryptocurrency
Jan 19, 2025 at 11:43 pm
President-elect Donald Trump, who has dubbed himself the most crypto-friendly president ever, officially launched his own cryptocurrency last week.
President-elect Donald Trump has officially launched his own cryptocurrency.
Trump shared the news on his Truth Social platform and Elon Musk’s X last week, unveiling what many, including Trump, have already dubbed a meme coin as it soared in price over its first two days.
“My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!” he wrote.
The coin’s official website says that the cryptocurrency “celebrates a leader who doesn’t back down, no matter the odds.”
Meme coins are often seen as having no economic or transactional value but instead are used in speculative trading.
Despite this, as of Sunday morning, the market capitalization for $TRUMP was at $11.5 billion, with the coin selling for $57.49, according to CoinMarketCap.com.
There have not been any reports on how much Trump or the company managing the launch, Fight Fight Fight LLC, made from the initial batch of meme coins released.
The coin’s official site said that 200 million meme coins were released at launch, with an additional 800 million coming over the next three years.
Trump spoke at the Bitcoin conference in Nashville last summer, where he discussed the future of cryptocurrency should he return to office in January. He said the US would be the “crypto capital of the planet,” and after his victory, the community seemed to respond.
Bitcoin went from around $80,000 per coin the day before the election to more than $100,000 in the days after Trump won. It now sits just shy of $105,000.
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- It’s been an interesting past 24 hours for the cryptocurrency industry and market, with the United States president-elect Donald Trump launching his own meme coin “Official Trump” (TRUMP).
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- OFFICIAL TRUMP (TRUMP) Skyrockets as Ethereum (ETH), Cardano (ADA), and Solana (SOL) Show Bullish Signs
- Jan 20, 2025 at 03:30 am
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