Sun Jan 19 02:47:40 UTC 2025: **Trump Launches Cryptocurrency, $Trump, Reaching Billions in Market Cap Hours After Launch**

WASHINGTON, D.C. – President-elect Donald Trump launched his own cryptocurrency, $Trump, on Friday, just hours before his inauguration on Monday. The meme coin, which lacks intrinsic value, rapidly amassed a market capitalization of nearly $5.5 billion (£4.5 billion) by Saturday afternoon, according to CoinMarketCap.com.

The venture, coordinated by CIC Digital LLC, an affiliate of the Trump Organization, saw 200 million tokens issued initially, with another 800 million slated for release over the next three years. CIC Digital LLC and Fight Fight Fight LLC own 80% of the tokens. Trump’s personal financial stake remains unclear.

The coin’s website describes it as a celebration of Trump’s leadership and includes a disclaimer stating it is not an investment opportunity or security and is unrelated to any political campaign or office.

However, the launch has drawn criticism. Crypto venture capitalist Nick Tomaino called the timing “predatory,” expressing concern that late investors could suffer losses as the price inevitably fluctuates. Meme coins are known for their volatility, often experiencing rapid price increases followed by sharp declines as speculators capitalize on hype.

The move comes amid anticipation within the cryptocurrency industry regarding the Trump administration’s stance on digital assets. While previously hesitant, Trump expressed ambitions for the US to become the “crypto capital of the planet” at a Bitcoin conference last year. His sons, Eric and Donald Jr., also launched their own crypto venture in 2024. The Biden administration, in contrast, has pursued stricter regulation of the cryptocurrency market citing concerns about fraud and money laundering.

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