Key Insights
- President-elect Donald Trump introduced a Solana-based memecoin, $TRUMP, which reached a $9 billion market cap within hours, signaling his embrace of cryptocurrency as part of his pro-crypto policy agenda.
- The project, linked to Trump’s NFT ventures, promises revenue-sharing for associated entities but emphasizes it is not a security or investment vehicle.
WASHINGTON (MarketsXplora) – President-elect Donald Trump unveiled a Solana-based memecoin Friday night via his social media accounts, marking a bold new foray into cryptocurrency just three days before his inauguration as the 47th President of the United States. Dubbed $TRUMP, the memecoin’s market capitalization soared to over $9 billion within hours, eclipsing established tokens like Pepe and Bonk.
“My NEW Official Trump Meme is HERE!” Trump announced on Truth Social and X. “It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW.”
Although initial reactions from crypto investors included concerns over a potential hack, the project was quickly traced to CIC Digital LLC, a company wholly owned by The Donald J. Trump Revocable Trust. CIC Digital LLC previously managed Trump’s successful NFT venture, earning over $7 million from Trump-branded collectible cards.
According to the $TRUMP token’s website, CIC Digital LLC and its affiliated entities, Celebration Cards LLC and Fight Fight Fight LLC, will receive trading revenue generated by the token. The site emphasizes that the memecoins are “not intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any type.”
The initial supply of $TRUMP tokens is capped at 200 million, with plans to expand to one billion over three years. Token allocation includes 80% for “Creators and CIC Digital,” 10% for public distribution, and 10% for liquidity, distributed through tranched unlocks over three years.
A representative of Jupiter Exchange, a crypto platform, confirmed the token’s legitimacy. “We have approved it to the Jupiter strictlist,” a developer stated on X, urging caution among investors.
At the time of writing this report, the TRUMP coin is trading at is $21.52, up 231.82% in the last 24 hours.
Efforts to reach Trump’s representatives for comment were unsuccessful.
Read also! How to Buy $TRUMP Memecoin Fast: All You Need to Know
Coinciding with Crypto Ball
The token’s explosive launch coincided with a high-profile “Crypto Ball” in downtown Washington, hosted by several crypto firms, including Coinbase-backed Stand With Crypto and Kraken. Tickets were priced at $2,500 each. President-elect Trump’s son, Donald Trump Jr., made an appearance, while rapper Snoop Dogg headlined the event.
The ball, organized by David Bailey, who also oversees a major Bitcoin conference, was described as a symbolic kickoff to Trump’s administration, which has pledged a pro-crypto agenda.
Policy Shift Amid Crypto Skepticism
Trump’s embrace of cryptocurrency represents a dramatic policy shift for the former crypto-skeptic. During his 2024 campaign, he styled himself as “the crypto president” and promised to prioritize digital assets in his administration. Bloomberg sources report that Trump plans to issue an executive order on Monday to establish cryptocurrency as a “national policy priority.” This initiative will include the formation of a crypto advisory council to foster collaboration between the government and the industry.
Notably, Trump endorsed World Liberty Financial, a DeFi protocol where he serves as “chief crypto advocate.” Critics, however, have panned the project as underwhelming. “Everything this man touches is a grift,” said Rep. Wiley Nickel, a crypto-friendly Democrat from North Carolina.
Trump’s token launch added fuel to a recent memecoin rally, though several Trump-inspired tokens faced steep sell-offs Friday night, with losses ranging from 20% to 50%.