President-elect Donald Trump’s newly introduced cryptocurrency, $TRUMP, achieved a market capitalization exceeding $8 billion within hours of its release.
On January 18, 2025, President-elect Donald Trump unveiled his official memecoin, $TRUMP, through his social media platforms, including X and Truth Social. In his announcement, Trump encouraged his supporters to join the “Trump Community,” stating, “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!”
The cryptocurrency, built on the Solana blockchain, experienced a rapid surge in value, with its market capitalization reaching over $8 billion within two hours of launch. Initial trading volumes surpassed $11 billion, reflecting significant investor interest.
The total supply of $TRUMP is set at 1 billion tokens, with 200 million available initially. CIC Digital LLC, an affiliate of the Trump Organization, holds 80% of the total supply, which is subject to a three-year unlocking period to prevent immediate large-scale sales.
Despite the enthusiasm, financial analysts have urged caution, noting that memecoins are highly volatile and prone to sudden value shifts. Critics have also raised concerns about potential conflicts of interest, as Trump’s financial involvement in the cryptocurrency sector coincides with his policy plans to deregulate the industry.
This venture adds to Trump’s previous engagements with the crypto industry, including the sale of Trump-branded NFTs and the introduction of a crypto platform last year. Ethics watchdogs have expressed alarm over the unprecedented nature of this business venture by a president-elect so close to inauguration.
