President-elect Donald Trump launched a cryptocurrency meme coin called $TRUMP on Friday, 17 January, 2025, just days before his inauguration.
Source: gettrumpmemes.com
Initially priced at approximately $1.50 per token, the coin's value surged to over $70 within 48 hours, marking an increase of more than 4,500%.
The $TRUMP cryptocurrency has been listed on several major platforms, including Binance, Coinbase and World Liberty Financial - a decentralised finance protocol founded by Donald Trump Jr. and Eric Trump in 2024, offering a platform for trading and utilising $TRUMP assets.
The $TRUMP coin was introduced by CIC Digital LLC, an affiliate of the Trump Organization. At launch, 200 million tokens were issued, with plans to expand the total supply to 1 billion over the next three years. Notably, CIC Digital LLC and Fight Fight Fight LLC, a company formed in Delaware earlier this month, own 80% of the tokens.
Trump embraces crypto
This move aligns with President-elect Trump's recent embrace of the cryptocurrency sector. During his campaign, he expressed intentions to reduce regulatory burdens on crypto firms and establish the US as the "crypto capital of the planet". His administration plans to form a crypto advisory council and has nominated crypto enthusiasts to key regulatory positions.
As of January 20, 2025, the $TRUMP coin was recorded trading at $1.53 USD. Earlier today, it reached an intraday high of $3.17 USD. This reflects a significant decline from its peak price of $75 USD over the weekend, which in part can be attributed to the incoming first lady, Melania Trump introducing her own meme coin, $MELANIA on Sunday night.
Despite these fluctuations, the $TRUMP coin maintains a market capitalisation of approximately $11.7bn USD, ranking it among the top 20 cryptocurrencies.
