Donald Trump has wasted no time leveraging his position as president-elect, launching a cryptocurrency, $TRUMP, that has rapidly drawn attention and amassed a significant market valuation.
The cryptocurrency—announced via Truth Social on Friday—achieved a market capitalisation of approximately €8.3 billion shortly after its launch, peaking at €13.8 billion early Sunday. Critics have pointed out that this latest venture adds to Trump’s long history of profiting from his public prominence.
Screenshot coingecko.com
A Financial Launchpad
The $TRUMP coin, hosted on the Solana blockchain, is being marketed as a celebratory token of Trump’s election victory and upcoming inauguration. Within hours of its launch, the token’s value skyrocketed by over 300% on Saturday alone. By early Sunday, it briefly surpassed €69 before stabilising at €42.3.
This frenzy translated into a trading volume of €33.3 billion within a 24-hour period, underscoring the scale of public interest and the potential revenue generation tied to this initiative.
Tokenomics and Ownership
While supporters have touted the $TRUMP coin as an innovative way to engage with Trump’s platform, the financial structure reveals that a significant portion of the profits could flow directly to Trump-affiliated entities. Of the initial 200 million tokens launched, 80% are retained by CIC Digital LLC, a Trump Organisation affiliate, and Fight Fight Fight LLC, a Delaware-based company established earlier this month. Revenue generated through trading activity will reportedly benefit these entities, reinforcing the perception that Trump’s ventures often prioritise personal profit.
The coin’s official website includes disclaimers clarifying that $TRUMP is not intended as an investment or security and is unaffiliated with any political campaign. Nonetheless, the optics of profiting from such a venture ahead of assuming public office have drawn sharp criticism.
Melania Trump Joins the Crypto Trend
Adding to the mix, the incoming First Lady, Melania Trump, has also launched her own cryptocurrency, $MELANIA. Hosted on the Solana blockchain and announced via social media platform X, $MELANIA’s market capitalisation reached €1.57 billion on Sunday. Described as “the Official Melania Meme,” the token further expands the Trump family’s business footprint into the digital currency space.
Like $TRUMP, $MELANIA is accompanied by disclaimers distancing it from investment opportunities or political campaigns.
Ethical Questions Persist
The timing of the $TRUMP and $MELANIA coin launches has reignited scrutiny over the Trumps’ approach to leveraging their political status for financial gain. Critics argue that introducing profit-driven ventures so close to assuming public office blurs the lines between personal enrichment and public service, eroding trust in their leadership before it officially begins.
These ventures are not isolated incidents but part of a consistent pattern. From NFT trading cards to Trump-branded bibles and limited-edition sneakers, the family has turned monetising the Trump name into an art form, albeit one with questionable taste. The reported €6.6 million earned from NFT licensing alone underscores the scale of these efforts, raising concerns about how their financial activities might influence governance.
While Trump’s embrace of cryptocurrency fits his narrative of fostering innovation and elevating the United States’ global standing, these ventures seem less about visionary policy and more about selling yet another product line. The timing and scope of these initiatives suggest a strategy focused on grabbing public attention rather than tackling the broader economic or technological challenges the crypto sector faces.
These actions also highlight the risks of intertwining personal business interests with public roles, setting a precedent critics warn could further erode ethical standards for political leaders. One can only wonder if meme coins will surge again during inauguration festivities—perhaps paired with a limited-edition Trump coin collector’s box?
Main image source: gettrumpmemes.com
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