Donald Trump has launched a new cryptocurrency, the "$TRUMP" meme coin, coinciding with the anticipation of his second term as the President of the United States. This bold move has seen the meme coin's value soar, tripling from approximately $20 per token to over $70. The asset has achieved a trading volume exceeding $24 billion as of Sunday morning, with a market capitalization greater than $14 billion.
The $TRUMP meme coin, launched by a Trump-owned entity, CIC Digital LLC, holds 80% of its initial supply of 200 million tokens. The total supply is projected to increase to 1 billion tokens over the next three years. Despite its remarkable financial performance, the coin's website includes a disclaimer emphasizing that it is not designed as an investment opportunity or security.
“Trump Memes are intended to function as an expression of support for, and engagement with, the ideals and beliefs embodied by the symbol “$TRUMP” and the associated artwork, and are not intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any type. GetTrumpMemes.com is not political and has nothing to do with any political campaign or any political office or governmental agency.” – Donald Trump
The cryptocurrency community eagerly anticipates Trump's return to power, expecting a favorable regulatory environment. Trump has vowed to issue an executive order establishing a crypto advisory council with up to 20 members. Leading crypto firms have already invested at least $10 million in his inauguration fund. Previously, Trump successfully released batches of crypto trading cards during his campaign, generating over $4 million in revenue per release.
The Trump family's involvement in cryptocurrency ventures extends beyond the former president. His sons, Eric Trump and Donald Trump Jr., launched a crypto venture named World Liberty Financial in 2024. This follows a backdrop of mixed fortunes in the meme coin market. Recently, the "Hawk Tuah girl" meme coin plummeted 95% shortly after its release, sparking investor complaints about insider trading to the SEC.
“If, in 2025, the SEC turns a blind eye, consumers could be left entirely unprotected from financial losses – especially when another meme coin bubble bursts.” – Larisa Yarovaya
“Strong political and government endorsements of crypto, paradoxically, pose a threat to its decentralisation ethos and could ultimately undermine the appeal of crypto assets,” – Larisa Yarovaya
In Trump's administration, Paul Atkins, a known cryptocurrency enthusiast, has been nominated as Chair of the Securities and Exchange Commission (SEC), potentially impacting future regulatory landscapes.