$SOL
The boom in Trump-related crypto ventures comes as he promises to usher in a “golden age” for cryptocurrencies, in stark contrast with the regulatory scrutiny of the industry enforced under the administration of former President Joe Biden.
WLF, promoted and formed by Trump, his sons and Trump’s new special envoy to the Middle East, Steve Witkoff, was launched two months before the US election.
Trump’s new meme coin, branded $TRUMP, was launched on Friday night during the first-ever Crypto Ball in Washington, DC, in conjunction with inauguration festivities. The coin surged on Monday from less than $10 on Saturday morning to as high as $74.59 before giving up some of its huge rise.
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The new coin expanded Trump’s cryptocurrency interests beyond WLF.
Melania Trump launched her own coin, $MELANIA, on Sunday. Its rally pushed its market cap well beyond $1bn.
Four-fifths of Trump coin’s tokens are owned by CIC Digital, an affiliate of Trump’s business, and another entity called Fight, Fight, Fight, according to its website. It says the coins are “an expression of support for, and engagement with, the ideals and beliefs embodied by the symbol ‘$TRUMP'” and are not an investment or security.
The launch of WLF just two months before November’s US election raised concerns over ethics and conflicts of interest. The launch of the meme coin on Friday night also raised red flags, even among those in the cryptocurrency industry.
“While it’s tempting to dismiss this as just another Trump spectacle, the launch of the official Trump token opens up a Pandora’s box of ethical and regulatory questions,” said Justin D’Anethan, an independent crypto analyst based in Hong Kong.
$BTC , $SOL , $TRUMP or $MELANIA and the #TrumpMarketInsights
The boom in Trump-related crypto ventures comes as he promises to usher in a “golden age” for cryptocurrencies, in stark contrast with the regulatory scrutiny of the industry enforced under the administration of former President Joe Biden.
WLF, promoted and formed by Trump, his sons and Trump’s new special envoy to the Middle East, Steve Witkoff, was launched two months before the US election.
Trump’s new meme coin, branded $TRUMP, was launched on Friday night during the first-ever Crypto Ball in Washington, DC, in conjunction with inauguration festivities. The coin surged on Monday from less than $10 on Saturday morning to as high as $74.59 before giving up some of its huge rise.
Advertisement
The new coin expanded Trump’s cryptocurrency interests beyond WLF.
Melania Trump launched her own coin, $MELANIA, on Sunday. Its rally pushed its market cap well beyond $1bn.
Four-fifths of Trump coin’s tokens are owned by CIC Digital, an affiliate of Trump’s business, and another entity called Fight, Fight, Fight, according to its website. It says the coins are “an expression of support for, and engagement with, the ideals and beliefs embodied by the symbol ‘$TRUMP'” and are not an investment or security.
The launch of WLF just two months before November’s US election raised concerns over ethics and conflicts of interest. The launch of the meme coin on Friday night also raised red flags, even among those in the cryptocurrency industry.
“While it’s tempting to dismiss this as just another Trump spectacle, the launch of the official Trump token opens up a Pandora’s box of ethical and regulatory questions,” said Justin D’Anethan, an independent crypto analyst based in Hong Kong.
$BTC , $SOL , $TRUMP or $MELANIA and the #TrumpMarketInsights