Trump Meme Coin Value Jumps to $15 Billion Before Declining

On the eve of his inauguration, President-elect Donald Trump introduced a new cryptocurrency token.

As reported by the Associated Press (AFP) I mentioned On Sunday (January 19), the value of the new meme coin skyrocketed — more than $15 billion according to some the accounts – This would likely increase Trump’s net worth further and raise questions about his violations of White House rules.

“It’s time to celebrate everything we stand for: Winning! Join the very special Trump community,” Trump wrote in a social media post promoting the new codes. These coins were advertised with an image of Trump raising his fist over the words “FIGHT FIGHT FIGHT,” a reference to Trump’s response to the attempt on his life at a political rally in Pennsylvania last summer.

In promoting the coin, Trump told his supporters: “Enjoy!” The website selling the tokens said they were designed as an expression of support, not an investment opportunity, the Associated Press said.

However, people are still hoping to cash in on the coins — which started selling at $10 each — reaching $70 by Sunday morning, the report said.

As the report noted, some cryptocurrency advocates praised the launch, calling it a symbol of Trump’s support for their industry after years of controversy. Organizational campaigns Under President Biden. Trump has promised to be a more crypto-friendly CEO, by name Industry enthusiasts To his government.

Critics, meanwhile, say the meme could allow special interests and foreign governments to try to buy influence with the president, the report added.

According to The Daily Beast, a Trump Organization subsidiary known as CIC Digital and a related company running the launch, Fight Fight Fight LLC, Owns about 80% From meme queen.

The report said that these investors’ holdings will be unlocked over three years, with 200 million tokens available immediately and 1 billion tokens in circulation over the next three years.

“The public is going to be devastated, and obviously the people who stand to make the most money are the insiders,” Steven Wendsen, a cryptocurrency journalist and commentator, said in a video on Saturday.

The price of Bitcoin, the most popular cryptocurrency, continues to rise Approaching record levels Before opening.

Trump is expected to issue an executive order shortly after taking office designating cryptocurrency as a national priority. It would also direct government agencies to work closely with the cryptocurrency industry, creating a cryptocurrency advisory council that would push for industry policy priorities.

Earlier this month, Ripple CEO Brad Garlinghouse noted a “Trump bull market” in a post on X, saying his company signed more deals in the six weeks following the election than it had in the previous six months.

“2025 is here, and the Trump bull market is real,” Garlinghouse wrote.