{"id":62915,"date":"2025-01-19T00:04:32","date_gmt":"2025-01-18T19:04:32","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=62915"},"modified":"2025-01-19T00:04:32","modified_gmt":"2025-01-18T19:04:32","slug":"trump-unveils-meme-coin-as-its-value-soars","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/trump-unveils-meme-coin-as-its-value-soars\/","title":{"rendered":"Trump unveils meme coin as its value soars"},"content":{"rendered":"

WASHINGTON: US President-elect Donald Trump<\/a> has launched his own cryptocurrency, aptly called $TRUMP Coin, pushing its market capitalization to several billion dollars on Saturday.<\/p>\n

In a message posted on his Truth social platform and X, Trump unveiled the so-called meme coin, which is designed to capitalize on the popularity of a particular figure, movement or viral internet trend.<\/p>\n

Meme coins have no economic or transactional value, and are often viewed as a means of speculative trading.<\/p>\n

The coin\u2019s official site, which references the July 2024 assassination attempt on the Republican, says that \u201cthis Trump meme celebrates a leader who doesn\u2019t back down, no matter the odds.\u201d<\/p>\n

In the hours following its overnight launch, the crypto community raised questions about the legitimacy of the $TRUMP coin, and its true connection to the president-elect, with some fearing it was a scam.<\/p>\n

But the fact that Trump\u2019s announcements on official social media channels reassured the market, as did the fact that Trump has used CIC Digital LLC, a company behind the project in the past, which sells non-fungible tokens (NFTs).<\/p>\n

As of mid-morning Saturday, the market capitalization for $TRUMP was about $6 billion.<\/p>\n

Neither Trump nor the company managing the launch, Fight Fight Fight LLC, offered details on how much he made from the initial batch of meme coins.<\/p>\n

The coin\u2019s official site said that 200 million meme coins were issued, with Fight Fight Fight saying that another 800 million would be added over the next three years.<\/p>\n

At the current rate, the coins that are not yet on the market would be worth about $24 billion.<\/p>\n

Initially opposed to cryptocurrency, Trump took a bullish stance during his 2024 presidential campaign, championing the concept and promising to develop the sector, particularly by easing regulations.<\/p>\n

Prior to this new announcement, traders affiliated with Trump had launched a crypto platform called World Liberty Financial online in October.<\/p>\n","protected":false},"excerpt":{"rendered":"

WASHINGTON: US President-elect Donald Trump has launched his own cryptocurrency, aptly called $TRUMP Coin, pushing its market capitalization to several billion dollars on Saturday. In a message posted on his Truth social platform and X, Trump unveiled the so-called meme coin, which is designed to capitalize on the popularity of a particular figure, movement or […]<\/p>\n","protected":false},"author":8,"featured_media":62916,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,3],"tags":[6388,25883,184,25882],"class_list":["post-62915","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-world","tag-cryptocurrency","tag-trump-coin","tag-donald-trump","tag-world-liberty-financial"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/62915","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=62915"}],"version-history":[{"count":1,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/62915\/revisions"}],"predecessor-version":[{"id":62917,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/62915\/revisions\/62917"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/62916"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=62915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=62915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=62915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}