President-elect Donald Trump’s newly launched cryptocurrency, $TRUMP, has created a massive stir in the crypto world, skyrocketing in value as his inauguration weekend approaches. According to Fox Business, within 24 hours, the value of $TRUMP skyrocketed from just a few cents to $33.87, marking an incredible gain of over 18,000%.
Adding to the excitement, Coinbase, one of the largest cryptocurrency exchanges in the U.S., announced that it would list the $TRUMP coin. The announcement was made on social media and it attracted mixed reactions.
The launch of $TRUMP on the Solana blockchain has quickly become the talk of the town, dominating social media platforms and sparking a whirlwind of debates, confusion, and FOMO (fear of missing out). The $TRUMP website reveals that 80% of the coin is controlled by CIC Digital, an affiliate of the Trump Organization, along with a co-owned entity called Fight Fight Fight.
Coinciding with Trump’s upcoming inauguration, the meme coin’s release has sparked further interest as speculation grows around what role the new administration will play in the future of cryptocurrency. Trump is reportedly planning 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 relaxed regulatory approach to digital currencies. Additionally, Trump has discussed the possibility of creating a Bitcoin strategic reserve as part of his crypto policy.
As Trump prepares to step into office, the crypto world is eagerly awaiting how his policies may shape the future of digital assets. $TRUMP’s dramatic launch is just the beginning, and many are watching closely to see what other developments unfold in the coming days.
