On January 17, 2025, President Donald Trump launched a meme-based cryptocurrency called $TRUMP on the Solana blockchain. An initial coin offering (ICO) released 200 million of the total 1 billion tokens, with the remaining 800 million retained by Trump-affiliated entities. The coin's value surged to over $27 billion in market capitalization shortly after its release, but has since experienced significant volatility.
Wikipedia
The cryptocurrency community has expressed mixed reactions to this development. Some industry leaders are concerned that the launch of $TRUMP, along with a similar coin by Melania Trump, could undermine efforts to legitimize digital assets, viewing these moves as potential cash grabs.
AP News
As of January 25, 2025, the price of $TRUMP has declined to approximately $29 per token, down from its peak of $75.