Kept on Wikipedia:$Trump
| TRUMP | |
|---|---|
| File:Trump Meme logo.webp | |
| Ticker symbol | TRUMP |
| Development | |
| Initial release | January 17, 2025 |
| Website | gettrumpmemes |
| Ledger | |
| Supply limit | 1 billion |
| Valuation | |
| Market cap | US$6 billion |
Search $Trump on Amazon.
$Trump, also known as Official Trump (stylized in all uppercase), is a cryptocurrency meme coin associated with U.S. President Donald Trump, hosted on the Solana blockchain platform.[1] One billion coins were originally created; 800 million remain owned by two Trump-owned companies, after 200 million were publicly released in an initial coin offering (ICO) on January 17, 2025. Less than a day later, the aggregate market value of all coins was more than $27 billion, valuing Trump's holdings at more than $20 billion.
History
Donald J. Trump via Twitter @realDonaldTrump My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to gettrumpmemes.com/ — Have Fun!
January 18, 2025[2]
Meme coins hold no intrinsic value and are extremely volatile investments, commonly sold to raise enthusiasm for such things as internet jokes or celebrity mascots, sometimes by scammers seeking a quick profit with pump and dump schemes.[3][4][5] Trump had previously called crypto a "scam," but came to embrace it during his second presidential campaign by accepting bitcoin for donations. His sons Eric and Donald Jr. created their own crypto venture in 2024, and he said during his campaign he would make the country "the crypto capital of the planet" if elected again.[6][7]
The Trump meme coin was launched on January 17, 2025, three days before Trump was due to be inaugurated as president of the United States. The lack of a public announcement initially led to concerns that the cryptocurrency was a scam and might have no association to the president-elect.[8]
Several hours later, Trump announced $TRUMP on his X and Truth Social accounts.[9] The coin's logo is a cartoon image of Trump raising his fist after surviving the attempted assassination in July 2024.[10]
The meme coin website described it as the "only official Trump meme".[11][12] A disclaimer said that the coin was "not intended to be, or the subject of" an investment opportunity or a security and was "not political and has nothing to do with" any political campaign, political office or government agency.[12]
Launched on the Solana blockchain platform late at night, its price soared by over 300% overnight.[13] Within two days, it became the 19th most valuable form of cryptocurrency in the world, with a total trading value of nearly $13 billion, and a total of $29 billion worth of trades based on a $64 value of each of the 200 million tokens issued by the afternoon of January 19th. The New York Times reported that Trump affiliates controlled an additional 800 million tokens that, hypothetically, could be worth over $56 billion, potentially making Trump one of the richest people in the world at an estimated net worth of $63.8 billion.[14] Trump also launched a new memecoin named after his wife, $Melania, and promoted it on Truth Social shortly before attending an inauguration rally.[15]
As Trump was promoting the coin on the night of its ICO, leading crypto figures were attending an unofficial "Crypto Ball" ahead of the inauguration. Silicon Valley investor David Sacks, Trump's incoming crypto and AI czar, told attendees, "the reign of terror against crypto is over, and the beginning of innovation in America for crypto has just begun."[16] Sacks is an indirect investor in the Solana platform that hosts the Trump coin and promotes it as a leading contender in the blockchain market. Venture capitalist Marc Andreesen, an informal advisor to the Trump presidential transition, has been an investor in and promoter of Solana through his firm a16z.[17][18][19]
Token distribution
Ownership of the token is largely concentrated in two Trump owned entities: CIC Digital LLC and Fight Fight Fight LLC, which together hold 80 percent of the coins remaining after the ICO.[20] These holdings are scheduled for gradual release over three years.[21]
Reception
The crypto venture was criticized by ethics experts and government watchdogs.[15] The venture and the possibility of foreign governments buying the coin and enriching Trump was highlighted as possibly violating the Constitution's foreign emoluments clause.[22] Critics said it could allow special interests and foreign governments to seek to buy influence with the president.[23]
The release of $Trump was condemned by ethics lawyers, including Adav Noti, the director of the Campaign Legal Center,[24] and Jordan Libowitz, the vice president for communications at Citizens for Responsibility and Ethics in Washington.[25] Nick Tomaino, a former executive at Coinbase, described Trump's ownership and the timing of the cryptocurrency as "predatory".[24] Anthony Scaramucci, a former White House Communications Director during the first Trump administration and current crypto investor, described the coin as "Idi Amin level corruption" and said that the launch of the coin was bad for the cryptocurrency industry. He added, "Now anyone in world can essentially deposit money into bank account of President of USA with a couple clicks."[26][27] Brendan Fischer, the deputy executive director at Documented, an investigative news outlet, said, "The timing of this launch cannot be a coincidence. It comes just after Trump’s campaign ended, and just before he formally takes office and is fully subject to federal ethics rules."[28]
See also
- Donald Trump's stance on cryptocurrencies
- Hawk Tuah meme coin ― another meme coin hosted on Solana blockchain
- Trump Rebate Banking system
- World Liberty Financial ― a decentralized finance project linked with the family of Donald Trump
References
- ↑ Macheel, Tanaya (January 18, 2025). "Solana surges 12% on launch of Trump-themed meme coin, ether falls". CNBC. Retrieved January 19, 2025.
- ↑ "My NEW Official Trump Meme is HERE!".
- ↑ Suderman, Alan (January 19, 2025). "Trump promotes new meme coin before taking office on pro-crypto agenda". Associated Press.
- ↑ Lipton, Eric (18 January 2025). "Trump Begins Selling New Crypto Token, Raising Ethical Concerns". The New York Times. Retrieved 18 January 2025.
- ↑ Faguy, Ana (18 January 2025). "Trump launches cryptocurrency with price rocketing". BBC News. Retrieved 18 January 2025.
- ↑ Hoskins, Peter (January 20, 2025). "Melania Trump launches her own cryptocurrency". BBC News.
- ↑ Faguy, Ana (18 January 2025). "Trump launches cryptocurrency with price rocketing". BBC News. Retrieved 18 January 2025.
- ↑ "Trump launches his own meme coin, and its value soars to billions overnight". South China Morning Post. Agence France-Presse. January 19, 2025. Retrieved January 18, 2025.
- ↑ Snider, Mike (January 18, 2025). "Trump mints $31 billion with new official $TRUMP crypto meme coin". USA Today. Retrieved January 18, 2025.
- ↑ Lipton, Eric (18 January 2025). "Trump Begins Selling New Crypto Token, Raising Ethical Concerns". The New York Times. Retrieved 18 January 2025.
- ↑ Ishmael, Stacy-Marie (January 19, 2025). "Crypto Fans Bid Up Trump-Branded Token Days Before Inauguration". Bloomberg.
- ↑ 12.0 12.1 Faguy, Ana (18 January 2025). "Trump launches cryptocurrency with price rocketing". BBC News. Retrieved 18 January 2025.
- ↑ Roush, Ty (January 19, 2025). "Donald Trump Launches $TRUMP Meme Coin—Token Hits $9 Billion Market Cap". Forbes.
- ↑ Salmon, Felix (2025-01-19). "Donald Trump is the newest crypto billionaire". Axios. Retrieved 2025-01-20.
- ↑ 15.0 15.1 Lipton, Eric; Yaffe-Bellany, David (January 19, 2025). "Trump's Cryptocurrency Surges to Become One of the World's Most Valuable". The New York Times. ISSN 0362-4331. Retrieved January 19, 2025. Unknown parameter
|url-status=ignored (help) - ↑ Goodman, Jasper (January 18, 2025). "Trump launches crypto meme coin, ballooning net worth ahead of inauguration". Politico.
- ↑ Simmons, Jake (December 2024). "Trump's Crypto Czar David Sacks Is Super Bullish For Solana: Here's Why". NewsBTC.
- ↑ Zmudzinski, Adrian (June 9, 2021). "Solana Labs Raises $314M From Andreessen Horowitz's A16z, Polychain Capital, Others". Benzinga. via Yahoo Finance.
- ↑ Marchese, David (January 18, 2025). "Curtis Yarvin Says Democracy Is Done. Powerful Conservatives Are Listening". The New York Times.
Marc Andreessen, the venture capitalist turned informal adviser to President-elect Donald Trump, has approvingly cited Yarvin's anti-democratic thinking.
- ↑ Massa, Annie (January 19, 2025). "Trump's Memecoin Creates Billions From Thin Air Before DC Return". Bloomberg.
- ↑ "Trump launches meme coin, $TRump days before return to White House". www.bbc.com. Retrieved 2025-01-19.
- ↑ Romm, Tony (January 19, 2025). "Trump promotes meme coin, raising ethics issues as value soars". The Washington Post. ISSN 0190-8286. Retrieved January 19, 2025. Unknown parameter
|url-status=ignored (help) - ↑ Suderman, Alan (January 19, 2025). "Trump promotes new meme coin before taking office on pro-crypto agenda". Associated Press.
- ↑ 24.0 24.1 Lipton, Eric (January 18, 2025). "Trump Begins Selling New Meme Coin Days Ahead of Inauguration". The New York Times. Retrieved January 18, 2025.
- ↑ Goodman, Jasper (January 18, 2025). "Trump launches crypto meme coin, ballooning net worth ahead of inauguration". Politico. Retrieved January 18, 2025.
- ↑ Goodman, Jasper (18 January 2025). "Trump launches crypto meme coin, ballooning net worth ahead of inauguration". Politico. Retrieved 18 January 2025.
- ↑ Suderman, Alan (January 19, 2025). "Trump promotes new meme coin before taking office on pro-crypto agenda". Associated Press.
- ↑ Legaspi, Althea (January 19, 2025). "Melania Trump Crypto Meme Coins Are Here Less Than 24 Hours Before Inauguration". Rolling Stone.
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