$TRUMP The $TRUMP token is a cryptocurrency launched by Donald Trump, which surged to a valuation of over $5 billion shortly after its launch. Here's what you need to know:
- *Launch and Valuation*: The token's valuation exceeded $5 billion, making it the 19th most valuable cryptocurrency with nearly $13 billion in trading value and $29 billion worth of trades.
- *Token Distribution*: Trump affiliates controlled an additional 800 million tokens, potentially worth over $51 billion.
*Controversies and Concerns:*
- *Criticism*: Some lawmakers, like Representative Ayanna Pressley, criticized Trump's cryptocurrency venture, citing concerns about protecting consumers.
- *Potential Conflicts of Interest*: Trump's cryptocurrency venture has raised questions about potential conflicts of interest, given his role as President.
*Trump's Crypto Stance:*
- *Pro-Crypto Policies*: Trump has promised to make the US the "crypto capital of the planet" and has taken steps to support the crypto industry, including firing Gary Gensler and nominating Paul S. Atkins to succeed him as Chair of the Securities and Exchange Commission.
- *Strategic Bitcoin Reserve*: Trump has also established a strategic bitcoin reserve and pardoned BitMEX ¹.