On January 17, 2025, Donald Trump, the President-elect of the United States, launched his personal cryptocurrency, $TRUMP, a meme coin based on the Solana blockchain.
This cryptocurrency quickly gained significant attention, with its price surging from the initial $10 to a peak of $72, achieving a market capitalization of approximately $40 billion. However, the price faced volatility following the release of $MELANIA, a competing token launched by former First Lady Melania Trump.
Key Details:
- Ownership Concerns: 80% of $TRUMP’s supply is held by entities linked to the Trump Organization, raising concerns about conflicts of interest and ethical boundaries.
- Market Risks: Critics caution that meme coins often lack intrinsic value, leading to significant price fluctuations and potential investor losses.
- Policy Shift: Trump’s cryptocurrency launch marks a notable shift in his stance on digital assets. He previously expressed strong support for developing the cryptocurrency sector and hinted at introducing favorable policies once in office.
While $TRUMP has excited supporters, it also sparked debates about transparency, financial ethics, and the broader implications of mixing politics with personal business interests.
