Donald Trump Actually Launched a Solana Meme Coin for His Fans, and It’s Already Worth Over $5 Billion

ByJovial Jose
TRUMP Coin

President-elect Donald Trump has launched his own cryptocurrency, the $TRUMP coin, and it has already reached a $5 billion market cap just hours after its release. The coin is based on the Solana blockchain, with its website announcing, “$TRUMP are now freely tradeable on the blockchain.”

Before people could even figure out whether $TRUMP coin was legitimate or not, it had already become one of the top cryptocurrencies, with a market cap of $5 billion.

What is $TRUMP Coin?

Using Trump’s official X (formerly Twitter) and Truth Social accounts, the President-elect shared the news of a Solana-based memecoin, $TRUMP. According to the coin’s website, it’s inspired by a viral moment from Trump’s campaign on July 13, 2024. The site describes the coin as a celebration of Trump’s resilience and fighting spirit, encouraging people to join the community and support shared ideals.

The project launched with 200 million $TRUMP coins available for trading. Over three years, the supply will grow to 1 billion coins, released on a set schedule. The site emphasizes that $TRUMP coin is not intended as an investment or security but as a way to support the ideals associated with Trump.

CIC Digital LLC, an affiliate of The Trump Organization, and Fight Fight Fight LLC collectively own 80% of the Trump Meme Cards, which are part of the ecosystem. Trading revenue from these cards will go to CIC Digital LLC and Celebration Cards LLC.

The website has made it clear that $TRUMP coin is not to be viewed as a typical investment or security. Instead, it is a token meant to help supporters unite behind shared ideals, without the promise of financial returns.

Trump’s Pro-Crypto Agenda

Trump is expected to create a more crypto-friendly environment compared to the previous administration. During his first term, he showed cautious support for cryptocurrencies, focusing on regulations that encourage innovation while protecting investors.

Reports indicate that Trump is poised to sign an executive order that will prioritize cryptocurrency as a national imperative. This directive is expected to prompt collaboration among key regulatory agencies, including the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC), in developing a comprehensive framework for digital asset policy. 

Experts believe that if he returns to office, Trump could issue executive orders right away to boost the crypto market, which has been limited by stricter rules under Biden. This could help the cryptocurrency industry grow and provide clearer opportunities moving forward. The new meme coin he launched may just be the start of a bigger push for crypto innovation in his term.

Read More: How to Buy Unlisted Cryptocurrency?

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