Trump Launches Meme Coin Ahead of White House Return

President-elect Donald Trump has introduced a new cryptocurrency called $TRUMP, a meme coin built on the Solana blockchain. Announced via his X and Truth Social accounts, the coin's value surged to over $30 shortly after launch, achieving a market capitalization exceeding $5 billion.

The total supply of $TRUMP is capped at 1 billion tokens, with 200 million currently in circulation. Notably, 80% of the total supply is owned by entities linked to the Trump Organization, specifically CIC Digital LLC and Fight Fight Fight LLC, with a three-year release schedule for these holdings.

This venture has sparked discussions about potential conflicts of interest, as President-elect Trump prepares to take office. Critics, including former White House Communications Director Anthony Scaramucci, have raised ethical concerns regarding Trump's financial involvement in the cryptocurrency sector.

The launch of $TRUMP aligns with President-elect Trump's broader engagement with the crypto industry, including previous NFT collections and plans to issue an executive order making cryptocurrency a national priority after his inauguration.

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