President-elect Trump launched his own cryptocurrency overnight and swiftly appeared to make more than $25 billion on paper for himself and his companies.

Why it matters: The stunning launch of $TRUMP caught the entire industry off-guard, and speaks to both his personal influence and the ascendancy of cryptocurrency in his administration.

It also speaks to the nature of the crypto industry that someone could have $25 billion worth of something that literally did not exist 24 hours previously.
Catch up quick: Friday night, while Trump was reportedly hosting a "Crypto Ball" for the industry in Washington, the president-elect launched his own meme-linked cryptocurrency.

highdesert wrote: Sun Jan 19, 2025 10:21 am Yup vaporware. If he decides to sell some billions and put the money into tangle items like property, that would last longer.

CDFingers wrote: Sun Jan 19, 2025 12:11 pm

highdesert wrote: Sun Jan 19, 2025 10:21 am Yup vaporware. If he decides to sell some billions and put the money into tangle items like property, that would last longer.

If you can get some fool to sell you property based on a crypto account, he deserves what he gets. What he gets is the crypto dude holding the deed to his property. Then you brand the property and get all the people who want to see you to stay there at inflated rates. Winning.

CDF

Donald and Melania Trump have launched a pair of meme coins just before President Trump was sworn into office. The coins are already worth billions of dollars, raising "serious ethical questions and conflicts of interest," said Richard Painter, a law professor at the University of Minnesota. CNN reports:
Melania Trump launched her cryptocurrency $MELANIA in a social media post Sunday, sending her husband's cryptocurrency $TRUMP, announced two days earlier, plummeting. "The Official Melania Meme is live! You can buy $MELANIA now. https://melaniameme.com," the future first lady wrote on X Sunday. Meme coins are a type of highly volatile cryptocurrency inspired by popular internet or cultural trends. They carry no intrinsic value but can soar, or plummet, in price. "My NEW Official Trump Meme is HERE!" Trump wrote on X Friday. "It's time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to http://gettrumpmemes.com -- Have Fun!" Both coins are trading on the Solana blockchain. [...]

$TRUMP is the first cryptocurrency endorsed by the incoming president, who once trashed bitcoin as "based on thin air." [...] While executive branch employees must follow conflict of interest criminal statutes that prevent them from participating in matters that impact their own financial interests, the law does not apply to the president or the vice president. [...] The Trump coin's market capitalization, which is based on the 200 million coins circulating, is capped at $13 billion, according to CoinMarketCap. The meme coin's website said there will be 1 billion Trump coins over the next three years. Both $MELANIA and $TRUMP's websites contain disclaimers saying the coins are "intended to function as a support for, and engagement with" the values of their respective brands and "are not intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any type."

The website says the meme coin is not politically affiliated. But 80% of the coin's supply is held by Trump Organization-affiliate CIC Digital and Fight Fight Fight LLC, which are both subject to a three-year unlocking schedule -- so they cannot sell all of their holdings at once. Trump coin's fully diluted value (which reflects the eventual total supply of Trump coins) stood at around $54 billion as of Monday morning, according to CoinMarketCap. At that value, the 80% linked to Trump is worth a staggering $43 billion, at least on paper. The $TRUMP coin's website says it is "the only official Trump meme. Now, you can get your piece of history. This Trump Meme celebrates a leader who doesn't back down, no matter the odds," the website reads.
"Trump owning 80% and timing launch hours before inauguration is predatory and many will likely get hurt by it," Nick Tomaino, a former Coinbase executive, said in a post on X. "Trump should be airdropping to the people rather than enriching himself or his team on this."