President-elect launches $Trump Coin days before inauguration

President-elect launches $Trump Coin days before inauguration

/ 11:28 AM January 19, 2025

President-elect Donald Trump launched his $Trump Coin cryptocurrency days before taking office.

The 47th President of the United States posted this message on X and the Truth Social app:

READ: Philippine Stablecoin launched by Smart Citi

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“It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW!”

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What do we know about Trump Coin?

The BBC reports that CIC Digital LLC coordinated the launch of this presidential token.

The company is a Trump Organization affiliate, which previously sold Trump-branded footwear and fragrances.

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CIC Digital LLC and Fight Fight Fight LLC own 80% of the tokens, but it is unclear how much Trump can earn from this venture.

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Cryptocurrency price tracker CoinGecko shows the $TRUMP price skyrocketed by 600%, which was $27.40 at the time of writing. 

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Moreover, Trump Coins follow a three-year unlocking schedule, preventing holders from dumping their holdings simultaneously. 

The BBC describes them as meme coins, which “are used to build popularity for a viral internet trend or movement.” 

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However, they “lack intrinsic value and are extremely volatile investments.” 

Regardless, the official website emphasizes the Trump Coin’s meme status by saying: 

“This Trump Meme celebrates a leader who doesn’t back down, no matter the odds.”

The Trump Coin highlights the President-Elect’s influence and his upcoming administration’s pro-crypto stance. 

Before the digital token announcement, he and his sons opened a crypto venture named World Liberty Financial.

In August 2024, he promised at a Bitcoin conference in Nashville that he would make America “the crypto capital of the planet.”

As a result, many speculate that he will launch the US Strategic Bitcoin Reserve, which is similar to a country’s gold reserve.

See how a Bitcoin reserve might work here.

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This article does not provide financial advice. Please consult a financial advisor for proper guidance in building your portfolio.

TOPICS: technology
TAGS: technology

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