The newly elected President of the United States, Donald Trump, has introduced his cryptocurrency, $Trump, which quickly achieved a market valuation of approximately $5.5 billion shortly after its release. The project was organized by CIC Digital LLC, a subsidiary of the Trump Organization.
$Trump joins the trend of meme coins, often characterized by high volatility and lacking intrinsic value, designed primarily to leverage internet trends.
According to the coin’s official website, 200 million tokens were initially issued, with plans to release an additional 800 million over the next three years. Trump promoted the cryptocurrency on his social media platform, Truth Social, calling it a celebration of his “victory” and leadership that “never backs down.”
Critics have accused Trump of capitalizing on the launch, timed just before his inauguration, and warn that meme coins are high-risk investments prone to significant price fluctuations. However, Trump has previously suggested that the U.S. could become the “crypto capital of the planet.”
