President-elect Donald Trump Launches Official Cryptocurrency, $TRUMP, Earning Him and His Companies Over $25 Billion on Paper

The coin's value skyrocketed, earning Trump and his companies over $25 billion on paper within hours.

President-elect Donald Trump launched his official cryptocurrency, $TRUMP, at a “Crypto Ball” in Washington, DC, on Friday. The coin's value quickly soared, netting Trump and his companies over $25 billion on paper within hours of its launch.

Here's a closer look at the key numbers and market impact:

$TRUMP Price Surge: The coin skyrocketed over 600% overnight, reaching a trading price of $32 as of Saturday morning.

Coin's Market Cap: The fully diluted market capitalization of $TRUMP surpassed $32 billion.

Supply Distribution: Notably, Trump Organization affiliates hold 80% of the coin's supply, which will be released on a three-year schedule to prevent immediate sell-offs.

Crucial Impact: The launch highlights Trump's personal influence and underscores cryptocurrency's growing prominence within his administration.

Trump's Embrace of Crypto: This marks a significant shift, with reports suggesting that Trump may declare cryptocurrency a national priority.

From Crypto Skeptic to Enthusiast: Previously a crypto skeptic, Trump has warmed to the industry and is now using it to monetize his support base. His supporters now have a unique avenue to engage financially with his administration.

As $TRUMP continues to dominate headlines, analysts and supporters alike will be watching for further developments, including regulatory moves and market reactions. This is a developing story—stay tuned for updates.