Donald Trump’s newly launched cryptocurrency has gained massive value before his inauguration as US president. The token, which has sparked controversy among regulators and watchdogs, is now worth over $5.6 billion. Speculators are driving the surge in value.
Critics view this development as a potential ethics breach, given Trump’s promise to become the most crypto-friendly US president. Despite concerns, Trump’s appointed crypto czar, David Sacks, has expressed optimism about the future of cryptocurrencies.
Source: https://www.bloomberg.com/news/articles/2025-01-19/trump-s-memecoin-creates-billions-from-thin-air-before-dc-return