Trump Token Attracts Billions in Trading Volume Despite Hack Speculation

Social accounts associated with the Trump camp had previously been hacked and used by unauthorized actors to promote a fraudulent token

A Trump token began trading on decentralized exchanges Friday morning, quickly attracting billions of dollars in trading volume.

Social media accounts linked to the Trump campaign were previously hacked by bad actors who used them to promote a fraudulent token — a common occurrence in crypto that has even affected the Securities and Exchange Commission.

A representative for the president-elect did not immediately return a request for comment.

Trump’s previous crypto ventures include a lucrative collection of non-fungible tokens, or digital collectibles, depicting him in various poses and costumes, including as a superhero. He and his sons have also endorsed World Liberty Financial, a project that has been hyped up a lot but is still lacking in specifics.

In the months leading up to and following his election, the president-elect has made overt overtures to the cryptocurrency sector. According to earlier Bloomberg News报道, he is thinking about issuing an executive order that would designate the asset class as a “national priority.”