PT Barnum was right. There's a sucker born every minute.President-elect Trump launched his own cryptocurrency overnight and swiftly appeared to make more than $25 billion on paper for himself and his companies.
The stunning launch of $TRUMP caught the entire industry off-guard, and speaks to both his personal influence and the ascendancy of cryptocurrency in his administration.
It also speaks to the nature of the crypto industry that someone could have $25 billion worth of something that literally did not exist 24 hours previously.
Friday night, while Trump was reportedly hosting a "Crypto Ball" for the industry in Washington, the president-elect launched his own meme-linked cryptocurrency.
His website bills it as "the only official Trump meme."
While a number of Trump-branded meme coins popped up in recent months, none had his official endorsement until now.
According to CoinGecko price data, $TRUMP rose more than 600% overnight and was trading just over $32 as of 11 a.m. ET Saturday.
[...]
The meme website says 80% of the supply is held by Trump Organization affiliate CIC Digital, and a CIC co-owned entity called Fight Fight Fight LLC. ("Fight fight fight" is what Trump said after being shot at a rally in July.)
Trump has warmly embraced cryptocurrency as a concept and an industry, to the point that he is reportedly considering designating it a "national priority" as soon as this week, per Bloomberg.
Axios
..but hey, do what you want...you will anyway.
UPDATE 01/19/2025:
I don't know. If the rubes are also making money, why would they care if he cared about them?
UPDATE 01/19/2025:
The family that grifts together.
UPDATE 01/20/2025:
Sad!
UPDATE 01/22/2025:
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