Donald Trump has shocked the world once again. This time, it’s not politics but cryptocurrency.
Trump has become a billionaire thanks to his meme coin, $TRUMP, which launched on the Solana blockchain.
DONALD TRUMP AND CRYPTOCURRENCY
The coin soared to a market capitalisation of over R191 billion.
According to CoinMarketCap, if all $TRUMP coins were in circulation, their value would surpass a staggering R957 billion, according to Telegraph.
However, the official website has warned buyers that $TRUMP is not an investment but a digital collectable.
The fine print on GetTrumpMemes.com states, “$TRUMP expresses support for the ideals symbolised by this token.”
DONALD TRUMP AND MELANIA
Interestingly, the coin’s creators include CIC Digital LLC, linked to The Trump Organisation, which retains a hefty 80% of $TRUMP coins.
Despite the massive profits, the coin is described as neither political nor associated with Trump’s presidency or campaign, according to Reuters.
Just as $TRUMP gained momentum, a rival entered the market. Melania Trump, the former first lady. She launched her cryptocurrency, $MELANIA, on 19 January.
Her coin quickly achieved a market capitalisation of R28.7 billion, with individual tokens trading for about R153 each.
DONALD TRUMP’S CRYPTO EMPIRE
The launch of $MELANIA sent $TRUMP’s value tumbling, creating a divide in the so-called “Trump crypto empire.”
Melania promoted her coin on X (formerly Twitter) but faced immediate backlash.
A Community Notes warning stated: “Buying this token is incredibly risky and will likely result in the loss of funds.”
Trump’s connection with cryptocurrency isn’t new. He called himself the “crypto president” during a Bitcoin2024 conference in July 2024, according to The Guardian.
THE CRYPTO LANDSCAPE
At the event, he boldly declared, “If crypto defines the future, I want it mined, minted, and made in the USA.”
His enthusiasm appears to have boosted Bitcoin as well. On Monday, 20 January, Bitcoin’s value soared to over R2 million per coin. This was a sharp rise from its R1.3 million value on Election Day 2024.
While his crypto ventures gain traction, ethical concerns loom. Former White House ethics lawyers have criticised Trump for personally profiting from an industry he is now tasked with regulating.
In his first week as president, Trump plans to shake up the crypto landscape.
EXECUTIVE ORDER
He’s expected to sign an executive order to create a cryptocurrency advisory council. His administration promises a more relaxed regulatory approach, especially compared to the Biden era.
Notably, Trump has already replaced former SEC Chair Gary Gensler with crypto-friendly Paul Atkins.
Atkins, a former SEC commissioner, is seen as an advocate for blockchain and digital assets.
Chris Giancarlo, former Chair of the Commodity Futures Trading Commission, praised the move, saying Atkins “understands the potential of this space.”
DIGITAL ASSETS
South Africa’s cryptocurrency enthusiasts are no strangers to the hype around meme coins.
The $TRUMP and $MELANIA launches highlight both the opportunities and risks in this volatile market.
With Bitcoin’s price climbing, South Africans investing in crypto may feel inspired, but caution remains key.
As the Trump family dives deeper into digital assets, one thing is clear: love them or hate them, they know how to make headlines—and money.
WHAT DO YOU THINK OF DONALD TRUMP’S SUCCESS IN THE CRYPTOCURRENCY WORLD?
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