Donald Trump Launches $TRUMP Meme Coin, Market Cap Surpasses $6 Billion

President-elect Donald Trump has introduced a new cryptocurrency, the $TRUMP meme coin, just days before his inauguration.

The token, built on the Solana blockchain, experienced a rapid surge in value, achieving a market capitalization exceeding $6 billion by Saturday evening. 

The $TRUMP coin is categorized as a meme coin—a type of cryptocurrency whose value is largely influenced by internet culture and social media trends.

According to reports by Politico, 80% of the coin’s supply is held by CIC Digital LLC, an affiliate of The Trump Organization, and Fight Fight Fight LLC, a company partially owned by CIC Digital. This substantial holding has the potential to significantly increase Trump’s net worth. 

The launch has sparked discussions about potential conflicts of interest, as Trump prepares to assume office while having significant financial interests in the cryptocurrency sector.

Critics argue that his plans to deregulate the industry could present ethical challenges.

Notably, former White House Communications Director Anthony Scaramucci described the venture as “Idi Amin level corruption.” 

Despite the controversies, the $TRUMP meme coin has garnered substantial attention in the crypto market, reflecting the growing influence of digital assets in the political and economic landscape.

Donald Trump Launches $TRUMP Meme Coin, Market Cap Surpasses $6 Billion