In an unprecedented move blending politics and digital finance, elected President Donald Trump announced on January 17, 2025, the launch of a new digital currency named "$TRUMP", just days before his inauguration for a second term. This currency has been classified as a "meme coin", which are digital currencies that derive their value from public enthusiasm and cultural spread online, and are often speculative in nature.
When launched, the $TRUMP coin was valued at around 18 cents, but it saw a massive increase in value, reaching $74.59 on January 19, raising its market value to about $15 billion. However, it later stabilized at around $33.88, with a market value of $7 billion.
Blockchain analyses show that the creators of $TRUMP have made significant profits from trading fees, which ranged between $86 million and $100 million as of January 30, 2025. Reports indicate that CIC Digital, owned by Donald Trump, is one of the entities behind this currency, benefiting from trading fees generated by the currency's trading activities.
It is important to note that meme coins, such as $TRUMP , are often considered speculative assets that lack real economic or transactional utility, and their value heavily depends on public enthusiasm and cultural spread. Therefore, investors are advised to exercise caution when dealing with these currencies due to the significant volatility and risks associated with them.
