Trump Generates $31 Billion Through the Launch of the New Official $TRUMP Cryptocurrency Meme Coin

Days prior to his second inauguration, President-elect Donald Trump announced the launch of a cryptocurrency meme coin that commemorates his reaction to the assassination attempt that occurred in July 2024.

Former President Donald Trump has entered the cryptocurrency market with the launch of a meme coin that commemorates his response to an assassination attempt in July 2024.

The coin, which is being sold for around $31, has generated a fully diluted valuation of over $31 billion.

Trump announced the launch of the cryptocurrency meme coin several days prior to his second inauguration.

The coin, which is being sold for approximately $31, has generated a fully diluted valuation of over $31 billion, according to crypto exchange GeckoTerminal on Saturday at 1 p.m. ET.

The coin was initially valued at 18 cents when trading commenced. As of noon on Saturday, the Trump coin boasted a fully diluted valuation of around $31.37 billion and a market capitalization exceeding $6.27 billion.

According to Boaz Sobrado, a fintech analyst based in London, "Trump Coin" has rapidly gained gained traction in the cryptocurrency market, potentially setting it up to rival Dogecoin within the meme coin sector, as reported by Forbes.com.

Axios reporters Ben Berkowitz and Brady Dale noted that the new coin's remarkable launch took the industry by surprise, highlighting both Trump's personal influence and the growing prominence of cryptocurrency during his administration.

They further indicated that this move could have generated over $25 billion on paper for Trump and his associated enterprises.

According to the coin's website, CIC Digital LLC, an affiliate of The Trump Organization, and Fight Fight Fight LLC, which is co-owned by CIC Digital, collectively own 80% of the coins.

These holdings are subject to a three-year unlocking schedule, which is designed to prevent a simultaneous sell-off, as reported by Axios.

Following the announcement of the Trump coin on social media, there were significant concerns regarding the cryptocurrency's legitimacy, according to the Crypto Briefing news site.

However, it is believed that the project is likely backed by individuals involved in Trump's "America First Collection" of digital trading cards.

Investors should be aware of the inherent volatility associated with cryptocurrencies. Those purchasing the new coin must accept specific terms and conditions, including a clause that prohibits future class action lawsuits, a strategy aimed at mitigating financial risks for the company and its issuers, as reported by Newsweek.

Trump merchandise has expanded to include a diverse array of products such as sneakers, Bibles, NFTs, and now meme coins. This latest addition is part of a broader range of offerings that have featured Trump-branded sneakers, victory cologne, luxury watches—one priced at $100,000—and Bibles.

Consumers can purchase Trump coin through the Moonshot app, with the potential for additional cryptocurrency products to emerge during Trump's administration.

Paul Atkins, nominated to lead the U.S. Securities and Exchange Commission, is viewed as more favorable towards cryptocurrency than the outgoing Democratic SEC chair, Gary Gensler.

Moreover, Trump is contemplating the establishment of a strategic reserve of bitcoin, recognized as the first successful digital currency.

These cryptocurrency initiatives represent a logical extension of Trump's brand development, which has previously included ventures such as Trump hotels and casinos, as noted by Forbes' Sobrado.

While the introduction of a presidential meme coin may appear groundbreaking, it aligns with Trump's established pattern of leveraging his brand.

As Sobrado remarks, "The president has consistently shown an aptitude for monetizing his personal brand. The distinction this time lies not in the strategy but in the medium—and, ironically, the regulatory landscape that has facilitated it."