On the night of January 17, Trump launched his own cryptocurrency, $TRUMP. It took about two days for the meme coin to balloon in value to more than $58 billion. The cryptocurrency was officially launched during a Crypto Ball event in Washington D.C.
While other Trump-themed coins have been released, this was the first to receive Trump’s formal endorsement. Trump’s wife, Melania, followed up with her own meme coin, $MELANIA, two days later. Its worth amounted to $5 billion after a few hours.
Trump has designated cryptocurrency as a “national priority.” This is despite previous remarks made as recently as 2021 in which he labeled Bitcoin and other cryptocurrencies as a “scam” that undermined “the importance of the dollar.”
