Donald Trump's Meme Coin 'TRUMP' Rallies 103% in a Day, Creates Billions Out of Thin Air

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Donald Trump's Meme Coin 'TRUMP' Rallies 103% in a Day, Creates Billions Out of Thin Air

Benzinga01-20

President-elect Donald Trump‘s Saturday launch of the meme coin TRUMP TRUMP/USD has caused a stir in both the crypto industry and among government watchdogs. What Happened: The meme coin’s market ...

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They perceive it as a violation of ethical standards and a way for the president-elect to monetize his international prestige.\nThe TRUMP meme coin, unlike other digital assets, is not tied to any underlying business. This makes it a highly speculative investment for investors and potentially extremely lucrative for its creators. \nAs per the Benzinga Pro data, the meme coin’s market value reached $14.2 billion early Sunday, nearly tripling from $4.9 billion just 12 hours prior.\nThe meme coins started selling for $10 each before soaring to as high as about $70 as of Sunday morning.\nAt the time of writing TRUMP was trading at $56.02, up by almost 95% in the last 24 hours. \nAccording to a report by Bloomberg, CIC Digital LLC, an affiliate of the Trump Organization, and a related entity, Fight Fight Fight LLC, own an 80% share of the digital asset. These holdings will be gradually unlocked over a span of three years.\nAlso Read: Crypto Firms Donate Millions to Trump Inaugural Fund, Host Unofficial Ball Featuring Snoop Dogg\n\"$Trump is currently the hottest digital meme on earth,\" Eric Trump wrote on X. \n\nI am extremely proud of what we continue to accomplish in crypto. $Trump is currently the hottest digital meme on earth and I truly believe that @WorldLibertyFi will revolutionize DeFi/Cefi and will be the future of finance. We are just getting started! 🚀🚀 https://t.co/YzdxoCWrKV— Eric Trump (@EricTrump) January 18, 2025\n\nThe official meme coin website says that their holdings will unlock over a three-year period, with 200 million tokens available immediately and 1 billion in circulation over the next three years.\nDespite the controversy surrounding its launch, the crypto industry, which felt unjustly targeted under President Joe Biden administration, has welcomed the new meme coin. Crypto companies reportedly spent $10 million on Trump's inauguration, indicating their support for the incoming administration.\nWhy It Matters: The launch of the Trump meme coin is a significant event in the crypto industry. It represents a shift in the relationship between politics and cryptocurrency, with a high-profile political figure directly benefiting from a digital asset. \nThis move could potentially influence future political and financial strategies, as well as regulatory approaches to cryptocurrency. \nHowever, the controversy surrounding the launch also highlights the ethical concerns and potential conflicts of interest that can arise when political figures engage in such ventures.\nRead Next\nSolana Skyrockets, Sees 15% Surge Following Launch Of Trump-Themed Meme Coin\nImage: Shutterstock Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. 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