Donald Trump’s newly-created cryptocurrency, $TRUMP, has skyrocketed to nearly $12 billion in market value, sparking concerns over ethics and regulation. Launched on Friday, the token is ranked as the 18th biggest cryptocurrency, with an impressive 24-hour trading volume of $52.5 billion.
The coin, which features branding including an image from Trump’s attempted assassination, has drawn attention from both fans and critics. Cryptocurrency expert Justin D’Anethan warned that the launch “opens up a Pandora’s box” of ethical questions regarding governance, profit, and influence.
Meanwhile, bitcoin has hit a record high of $109,071.86, with prices surging more than 10% this month. The industry is eagerly awaiting Trump’s plans to reduce crypto regulatory roadblocks and promote widespread adoption.
The prospect of looser regulations has sent shockwaves through the cryptocurrency market, with some experts hailing it as “digital gold.” As Trump prepares to assume the presidency, his stance on crypto will be closely watched by investors and regulators alike.
Source: https://www.reuters.com/technology/trumps-new-crypto-token-jumps-ahead-his-inauguration-2025-01-20