Donald Trump Launches $TRUMP Meme Coin—Token Nears $6 Billion Market Cap
Topline
A new meme cryptocurrency launched by President-elect Donald Trump on Friday surpassed a market capitalization of $5 billion, representing Trump's latest venture in cryptocurrencies and merchandise sales before his inauguration.
Key Facts
late Friday assigned to say that the cryptocurrency is celebrating "WINNING" the U.S. presidential election and his upcoming inauguration.
to CoinMarketCap.
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The remaining 80% of the tokens yet to be publicly issued are owned by companies affiliated with the Trump Organization: CIC Digital LLC and Fight Fight Fight LLC. The latter was established in Delaware on January 7, according to state records. Both companies will receive an unspecified revenue share from the trading activity.
The token's website includes a disclaimer stating that "$TRUMP" is "not intended to be, or the subject of" an investment opportunity nor a security of any kind, and is "not political and has no connection to" any political campaign, office, or government agency.
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Big Number
The trading volume of $TRUMP as of Saturday morning is $6.64 billion since it launched.
Key Background
The individual running for U.S. office, who had the support of several billionaires connected to the cryptocurrency sector, declared his ambition for the U.S. to become the “crypto capital of the world.” Following his election success, the price of bitcoin surged to multiple record highs, exceeding $100,000 within a month of Election Day. The global cryptocurrency market experienced a gain of approximately $1.8 trillion in its collective market value in 2024, with around $1 trillion of this increase occurring after Election Day, according to CoinGecko statistics.
What Cryptocurrency and Blockchain Policies Has the Trump Administration Proposed?
A bitcoin reserve, allowing the federal government to buy and sell bitcoin. News of Trump's plans for the cryptocurrency industry caused the price of bitcoin to rise above $105,000 on Friday, the coin's highest value in nearly a month.
Tangent
His line of signed and unsigned guitars, which sold for $11,500 and $1,500 each, respectively, earned him approximately $4.6 million in total sales.
Further Reading
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