US President-elect Donald Trump has launched a meme coin worth around $9 billion, called $TRUMP, in celebration of his upcoming inauguration. The cryptocurrency was announced on Friday and rapidly rose by over 300% before paring back some gains.
The digital asset is hosted on the Solana blockchain and has a limited supply of 200 million coins at launch, with plans to expand to 1 billion over the next three years. However, the majority of tokens are held by Trump Organization affiliates, who will receive revenue from trading activity.
Trump’s latest venture comes as he aims to position the US as the “crypto capital of the planet”. He has proposed reducing regulatory burdens on crypto firms and establishing a bitcoin reserve. The launch of $TRUMP is his latest merchandise push, adding to a line of perfumes, colognes, and other products featuring his image.
The coin’s website includes a disclaimer stating it is not intended as an investment opportunity nor a security. Trump’s incoming First Lady Melania has also launched her own cryptocurrency, $MELANIA, which is based on the same blockchain.
Source: https://www.forbes.com/sites/tylerroush/2025/01/19/donald-trump-launches-trump-meme-coin-token-exceeds-12-billion-market-cap