Trump's Meme Coin 'Trump Coin' Is a Wild Ride in the Crypto World

In a social media post, he's all about celebrating "WINNING!" and inviting folks to join his "Trump Community."

Former President Donald Trump is now offering his own digital tokens, called "Trump Digital Trading Cards." These tokens are being sold for $99 each, and the promo features Trump himself, inviting people to join his "Trump Community." The promo also includes a nod to a past rally incident, where Trump can be heard shouting "FIGHT FIGHT FIGHT."

These tokens are being sold as more of a show of support than a serious investment, and they are being sold quickly. Starting at $10 each, the price had shot up to around $70 by Sunday morning. These meme coins are known for their wild fluctuations in the crypto world, often starting as jokes but can skyrocket if enough people join in.

Some crypto fans are excited by this new token, seeing it as a sign that Trump will back the crypto industry, which felt a bit sidelined under Biden. He's promised to bring in crypto-friendly rules and has picked some crypto advocates for key roles.

On the other hand, critics are worried about this meme coin, which they say could let special interests and foreign powers influence the president. One former Trump aide even said it's like anyone can just toss money into the president's account with a few clicks.

The whole sale is being run by CIC Digital, which is linked to the Trump Organization. They've got 200 million of these coins up for grabs now, with plans for a billion over the next few years. Interestingly, CIC Digital and another firm own 80% of the coins and will make profits from trading.

Trump's family business has set up an ethics agreement to keep him out of daily decisions while he's president. But let's not forget, he's already dabbled in crypto and NFTs, making a pretty penny from digital trading cards featuring him in all sorts of fun roles.

And his social media venture, Truth Social, is valued at over $8 billion, even though it's struggling to make money. It's all about the support from his fans, boosting his stock price and net worth. What a ride!