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Donald Trump Launches $TRUMP Meme Coin, Holds $260M in $ETH

Jan 26, 2025, 11:37 AM

Former U.S. President Donald Trump has launched a meme coin, $TRUMP, just days before his inauguration. The coin, which quickly reached a market capitalization of $15 billion within 48 hours, positions itself as one of the largest meme coins in the market. Trump and his family are heavily involved in the project, with affiliated companies owning 80% of the coin's supply. The coin's value has fluctuated significantly, dropping to a market cap of $7.3 billion shortly after its peak. Trump is also reported to hold $260 million worth of $ETH, further highlighting his engagement with digital assets. The $TRUMP coin is promoted with the slogan "Join the Trump Community. This is History in the Making!" The project has drawn criticism from industry experts, including Anthony Scaramucci, who labeled it a 'gambling token' with no utility. Trump's wife, Melania, has also launched her own coin, $MELANIA, which has a market cap of $732 million. The coins have sparked debates about their potential risks to retail investors and their impact on the crypto industry's reputation. Analysts suggest that the launch of these coins could signal a shift in how political figures engage with digital assets, but concerns remain about their long-term viability and regulatory implications.