Trump’s official currency rises 330%, critics raise concerns

The value of the meme coin known as “Official Trump” has skyrocketed since its launch on January 17, reaching $38.31 at last check on Sunday – one day before the US president’s inauguration.

Cryptocurrency (Trump), which President-elect Donald Trump launched in his own honour, is rapidly gaining traction in the digital asset space, with trading volumes surging on major platforms like Binance and OKX, where it is listed.

The coin’s rise reflects the growing appetite for coins backed or released by famous individuals. The downside is that these types of assets often experience speculative booms due to their viral appeal.

Some even get called out for pulling the rug.

Trump’s official currency did just that, but at last check on Sunday, it was up nearly 330%.

What the critics say

Trump’s creators, and Trump himself, lean into the president-elect’s political branding, positioning the token as both a financial asset and a cultural statement. For example, its logo — emblazoned with the words “Fight Fight Fight” — sets the coin apart from other unofficial Trump coins that have flooded the market.

Trump’s official listing on Binance and OKX has further legitimized them, providing access to millions of global traders.

However, the coin was not without controversy. Critics He argues That Trump represents a potential conflict of interest, especially since Trump is about to be sworn in as Commander-in-Chief of the United States.

Steven Wendsen, also known as Crypto Investigator Coffeezilla on YouTube, Named “The start”Historical in its stupidity“.

Anthony Scaramucci, a Bitcoin bull who briefly worked for Trump and now runs investment firm SkyBridge Capital, warned his 1 million followers on

Ben Meiselas, co-founder of Meidas Touch, suggested Trump could have focused on more pressing matters rather than coins.

Despite the criticism, Trump’s meteoric rise highlights the continuing influence of political and cultural figures on the cryptocurrency market, raising questions about the intersection of finance, politics, and blockchain technology.

Barstool Sports founder Dave Portnoy also weighed in, equating Trump’s coin launch to an alleged pump-and-dump scheme involving Haley Welch, the viral “Hook twah“a star.

It should be noted that the Trump family is already promoting tokens associated with World Liberty Financial. In September, CoinDesk It was reported that 70% of the platform’s tokens are owned by its founders, team members, and service providers.

The same goes for official Trump. About 80% of the meme coin is reportedly owned by CIC Digital, a subsidiary of the Trump Organization.