Trump launches $Trump cryptocurrency ahead of inauguration – Dimsum Daily

19th January 2025 – (Washington) U.S. President-elect Donald Trump has unveiled his own cryptocurrency, $Trump, which rapidly surged to a market capitalisation of nearly $5.5 billion shortly after its launch. This initiative coincides with Trump’s impending inauguration as the 47th president of the United States on Monday.
The cryptocurrency venture is managed by CIC Digital LLC, an affiliate of the Trump Organisation, known for its previous dealings in Trump-branded products such as shoes and fragrances. Meme coins, like $Trump, are typically created to capitalise on viral internet trends but often lack inherent value, making them highly volatile investments.
In a post on his social media platform, Truth Social, Trump declared, “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!” The coin’s website indicates that 200 million tokens have already been issued, with an additional 800 million expected to be released over the next three years.
CIC Digital LLC and Fight Fight Fight LLC, a Delaware-based company established earlier this month, collectively own 80% of the tokens. The financial implications for Trump remain uncertain, though critics have raised concerns about the timing and nature of the launch.
Nick Tomaino, a crypto venture capitalist, remarked on social media, “Trump owning 80 per cent and timing launch hours before inauguration is predatory and many will likely get hurt by it.” Such tokens have a history of speculative trading, where initial hype can inflate prices, only for latecomers to suffer significant losses as values drop.
While cryptocurrency enthusiasts hope that the Trump administration will foster a more favourable environment for the industry, President Joe Biden’s regulatory actions have raised alarms over fraud and money laundering, leading to increased scrutiny of crypto exchanges.
Previously sceptical about digital currencies, Trump hinted at the potential for America to become “the crypto capital of the planet” during a Bitcoin conference in Nashville last year. His sons, Erik and Donald Jr., also launched their own crypto venture in 2024.

© 2021 DimSum Daily. ALL RIGHTS RESERVED.

© 2021 DimSum Daily. ALL RIGHTS RESERVED.

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