President-elect Donald Trump’s new cryptocurrency, $TRUMP, has created a huge stir in the crypto world, with its value skyrocketing as his inauguration weekend approaches. According to Fox Business, in 24 hours, the value of $TRUMP rose from pennies to $33.87, an incredible gain of over 18,000%.
To add to the excitement, Coinbase, one of the largest cryptocurrency exchanges in the United States, announced that it will list the $TRUMP coin. The announcement was made on social media and received mixed reactions.
The launch of $TRUMP on the Solana blockchain quickly became a topic of conversation, dominating social media platforms and sparking a whirlwind of debate, confusion and FOMO (fear of missing out). The $TRUMP website reveals that 80% of the coin is controlled by CIC Digital, a subsidiary of the Trump Organization, as well as a co-owned entity called Fight Fight Fight.
Coinciding with Trump’s upcoming inauguration, the meme coin’s release has sparked increased interest as speculation grows about the role the new administration will play in the future of cryptocurrency. Trump reportedly intends to issue executive orders related to Bitcoin and the broader crypto industry on his first day in office or shortly thereafter.
One of the key points of his campaign was to advocate for a more lenient regulatory approach to digital currencies. Additionally, Trump has discussed the possibility of creating a strategic Bitcoin reserve as part of his crypto policy.
As Trump prepares to take office, the crypto world looks forward to how his policies could shape the future of digital assets. The spectacular launch of $TRUMP is just the beginning, and many are closely watching other developments unfold in the coming days.