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Trump’s new meme coin and crypto token soar on his first day in office
Trump’s promise to usher in a ‘golden age’ for crypto is a sharp contrast from his predecessor.
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Home / World News / $TRUMP coin rockets to $10 billion as Trump ushers in 'crypto golden age'
$TRUMP coin rockets to $10 billion as Trump ushers in 'crypto golden age'
Trump-backed crypto ventures fuel market buzz, raising $1 billion in token sales and propelling Bitcoin to $104K, as hits $10 billion valuation
Donald Trump
Donald Trump | Photo: X
Nandini SinghNew Delhi
3 min read Last Updated : Jan 21 2025 | 10:59 AM IST
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As Donald Trump begins his second term as President of the United States (US), Trump-backed cryptocurrency ventures are causing ripples in the digital finance sector. On Monday, World Liberty Financial (WLF), a Trump-associated blockchain initiative, revealed it had secured $1 billion in funding through token sales. Meanwhile, Trump’s new meme coin, $TRUMP, surged to a market valuation exceeding $10 billion, capturing significant attention among investors and meme coin enthusiasts.
Trump’s crypto era begins
WLF, a cryptocurrency venture launched just two months before the US election by Donald Trump, his sons, and Middle East special envoy Steve Witkoff, has quickly made its mark in the crypto space. The announcement of its success coincided with Trump’s pledge for a ‘golden era’ for cryptocurrencies, presenting a contrast to the regulatory approach seen under Joe Biden’s administration.
Adding to the crypto frenzy, the $TRUMP meme coin debuted on Friday night at the first-ever Crypto Ball in Washington, DC, held alongside inauguration events. The coin saw a rapid increase in value, climbing from under $10 on Saturday to a peak of $74.59 by Monday before stabilising.