Trump's freshly minted meme coin passes $10B market cap
- Reference: 1737382508
- News link: https://www.theregister.co.uk/2025/01/20/trump_meme_coin/
- Source link:
Cryptocurrency policy under Trump: Lots of promises, few concrete plans [1]READ MORE
The presidential crypto made "quite a splash in the crypto market," according to Coin Desk, which tracked it becoming "the 21st largest digital asset" in record time – no mean feat when it didn't exist on Thursday.
There is a 20 percent float, with the remaining 80 percent owned by Trump, Trump family companies, and the coin's developer. The price started at $0.01, hit highs of over $70, and is now hovering around $53. An unhappy reader opined that Trump would "likely leak the coins over the next few years," while numerous critics claimed the gambit looks suspiciously like a pump-and-dump scheme.
The [2]current market cap of $TRUMP, at the time of writing (according to crypto data aggregator CoinMarketCap), is $10.2 billion. $MELANIA is [3]$2.01 billion .
The price of Bitcoin also hit an all-time-high as Trump's inauguration draws closer and crypto market speculation mounts. At the time of publication, [4]BTC was worth $108K , having hit a high of $109K early in the European morning.
[5]
Both the Melania and Trump cryptocurrencies were endorsed by the Trump family's new crypto venture, [6]World Liberty Financial , launched in [7]August last year.
[8]
[9]
Eric Trump, Trump Organization EVP and the President-elect's son, said he was "extremely proud of what we continue to accomplish in crypto. [10]$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."
Pre-election promises
In a speech at a Bitcoin conference back in July last year, his father, then the Republican presidential nominee, vowed that the US would become the "crypto capital of the planet" and [11]reportedly said he would, if elected, create a Bitcoin "strategic reserve" using currency currently held by government, although whether that actually happens is anyone's guess.
Dennis Porter, co-founder and chairman of Satoshi Action Fund, a non-profit educational organization, [12]told The Register in November last year: "There's clear signaling from the Trump camp – which will soon be the Trump administration – that they're very interested in this policy," referring to the so-called "strategic Bitcoin reserve." Porter told us: "Trump endorsed that type of legislation at the Bitcoin conference right after Senator [Cynthia] Lummis introduced her legislation, the [13]Bitcoin Act of 2024."
Trump last year also [14]promised to "fire" Securities and Exchange Commission (SEC) chair Gary Gensler, who later announced his upcoming resignation and stepped down [15]today .
[16]
Departing chair Gensler, known for his crypto crackdowns, began his work at the federal agency in April 2021, in the immediate aftermath of the [17]GameStop market events . Gensler said of his time there that "the staff and the Commission are deeply mission-driven, focused on protecting investors, facilitating capital formation, and ensuring that the markets work for investors and issuers alike. The staff comprises true public servants. It has been an honor of a lifetime to serve with them on behalf of everyday Americans and ensure that our capital markets remain the best in the world."
Trump has [18]nominated crypto advocate, CEO of consulting firm Patomak Partners, and former SEC commissioner Paul Atkins to take the hot seat. He will help shape ongoing regulatory moves in the industry if and when he is confirmed by the Senate.
According to the $TRUMP crypto-coin website, which bears the unserious moniker of [19]GetTrumpMemes.com , the aim of investment is to "support" Trump. The token features a drawing of the incoming US president fist-pumping the air, saying "Fight, Fight, Fight!" – a slogan Trump picked up after an [20]assassination attempt in July last year.
[21]Crypto klepto North Korea stole $659M over just 5 heists last year
[22]CISA: Wow, that election had a lot of foreign trolling. Trump's Homeland Sec pick: And that's none of your concern
[23]SEC sues Elon Musk for allegedly screwing investors out of $150M before Twitter takeover
[24]Elon Musk tops US political donor list with $270M+ for Team Trump
There are several Trump-branded meme coins around, but $TRUMP is "the only official Trump meme," says the site, which adds:
Trump Memes are intended to function as an expression of support for, and engagement with, the ideals and beliefs embodied by the symbol "$TRUMP" and the associated artwork, and are not intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any type. GetTrumpMemes.com is not political and has nothing to do with any political campaign or any political office or governmental agency. CIC Digital LLC, an affiliate of The Trump Organization, and Fight Fight Fight LLC collectively own 80 percent of the Trump Cards, subject to a three-year unlocking schedule.
Other coins have begun piggybacking on $TRUMP's gains, including a coin branded as $USA, which Eric Trump said on [25]Saturday has "nothing to do with us."
Trump is expected to be inaugurated today in a ceremony that begins at 1130 Eastern Time (1700 UTC). ®
Get our [26]Tech Resources
[1] https://www.theregister.com/2024/11/30/cryptocurrency_policy_trump/
[2] https://coinmarketcap.com/currencies/official-trump/
[3] https://coinmarketcap.com/currencies/melania-meme/
[4] https://coinmarketcap.com/currencies/bitcoin/
[5] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/personaltech&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=2&c=2Z46BOu8-7pcEO11KTVWa1wAAAI0&t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0
[6] https://truthsocial.com/@realDonaldTrump/posts/113005603392033479
[7] https://www.theregister.com/2024/09/09/predator_spyware_trump_crypto/
[8] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/personaltech&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44Z46BOu8-7pcEO11KTVWa1wAAAI0&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[9] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/personaltech&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=3&c=33Z46BOu8-7pcEO11KTVWa1wAAAI0&t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0
[10] https://x.com/EricTrump/status/1880670273768435759
[11] https://apnews.com/article/donald-trump-bitcoin-cryptocurrency-stockpile-6f1314f5e99bbf47cc3ee6fc6178588d
[12] https://www.theregister.com/2024/11/30/cryptocurrency_policy_trump/
[13] https://www.congress.gov/bill/118th-congress/senate-bill/4912/all-info#allActions-content
[14] https://www.forbes.com/sites/beccabratcher/2025/01/19/trump-coin-sparks-fury-as-industry-grapples-with-pump-and-dump-dread/
[15] https://www.sec.gov/newsroom/press-releases/2024-182
[16] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/personaltech&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44Z46BOu8-7pcEO11KTVWa1wAAAI0&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[17] https://www.theregister.com/2021/01/28/robinhood_blocks_trades/
[18] https://www.washingtonpost.com/business/2024/12/04/paul-atkins-donald-trump-sec/
[19] https://gettrumpmemes.com/
[20] https://abcnews.go.com/Politics/fight-fight-fight-become-rnc-rallying-cry-trump/story?id=112027742
[21] https://www.theregister.com/2025/01/15/north_korea_crypto_heists/
[22] https://www.theregister.com/2025/01/18/cisa_election_security_isnt_political/
[23] https://www.theregister.com/2025/01/15/sec_musk_complaint/
[24] https://www.theregister.com/2024/12/07/elon_election_spending/
[25] https://x.com/EricTrump/status/1880727173004497126
[26] https://whitepapers.theregister.com/
Re: MAGA is a selection process for chumps
It depends on what you mean by successful. He seems to have done well out of it personally which would be his only KPI. The fact that it might have left a number of others distinctly worse off would be irrelevant to him.
Personally I think it's agreat thing to happen - but then I think Darwinism is a Good Thing. Maybe when the dust settles there'll be an awareness in the US that maybe they do have to have more qualifications for POTUS than simply being a native born US citizen. Simple things like not being a convicted felon or not having presided over too many bankruptcies. It might be a good thing to have, as SOP, a special prosecutor appointed from the day of the election result being announced who has power to collect evidence as things go along, freedom from interference and the duty of launching prosecutions, if justified, as soon as the term of office ends. Same applies to the UK PM and any other head of government.
Re: MAGA is a selection process for chumps
@Doctor Syntax
"Simple things like not being a convicted felon"
But as seen here the system would be gamed. Nobody can take seriously the 'felonies' against Trump and the desperation to call him felon but has no consequence.
"or not having presided over too many bankruptcies."
Yet for all the bankruptcies he is also damn wealthy. Some could look at it as the trial and error of actually having to run something. Compare that with politics for life which has no connection to real life.
"It might be a good thing to have, as SOP, a special prosecutor appointed from the day of the election result being announced who has power to collect evidence as things go along, freedom from interference and the duty of launching prosecutions, if justified, as soon as the term of office ends."
That could be good if actually free of political pressure. Imagine 2020 actually being investigated, the brazen illegalities of some of the further elections probably wouldnt have happened.
Re: MAGA is a selection process for chumps
It's because of the bankruptcies that he's still wealthy. Hide the money, go bankrupt, clear the debts, mysteriously regain your money.
Re: MAGA is a selection process for chumps
@Felonmarmer
"It's because of the bankruptcies that he's still wealthy."
Its a wonder with so many bankruptcies in the US that there aint more millionaires.
Re: MAGA is a selection process for chumps
I’m sorry that your boy isn’t the counter-institutional renegade that you think he is. He really is just another rich elite, but with even fewer scruples, and you fell for it.
Re: MAGA is a selection process for chumps
@jospanner
"I’m sorry that your boy isn’t the counter-institutional renegade that you think he is"
Who is 'my boy'? In 2016 I wanted someone else to win (no not Hillary). I aint in the US and only pointed out a simple fact.
Re: MAGA is a selection process for chumps
Why is felonies in quotes.
It is a matter of fact that he is a convicted felon.
Re: MAGA is a selection process for chumps
@jospanner
"Why is felonies in quotes."
Because of the bit of text just to the left if it- "Nobody can take seriously the".
"It is a matter of fact that he is a convicted felon."
Hence the point of my comment. If felons were banned from office then as we have seen (god just read the comment) the system would be games with such felonies. All of which are likely to vanish on appeal.
Re: MAGA is a selection process for chumps
That doesn’t make any sense.
Re: MAGA is a selection process for chumps
@jospanner
"That doesn’t make any sense."
You will need to clarify which bit you are struggling with because I cant see a problem and I havnt had issues before with this.
Re: MAGA is a selection process for chumps
He's wealthy 'cos his Dad was wealthy. It's really not that difficult.
Log cabin to Whitehouse, now that would be laudable. Abe Lincoln did it. Abe Lincoln is a hero of mine. Mr President, you are no Abe Lincoln
Re: MAGA is a selection process for chumps
@MyffyW
"He's wealthy 'cos his Dad was wealthy. It's really not that difficult."
Ok. But for all his bankruptcies he is still wealthy now. It amuses me that he is a terrible failure through bankruptcies and at the same time this evil rich man.
Re: MAGA is a selection process for chumps
“ It amuses me that he is a terrible failure through bankruptcies and at the same time this evil rich man.”.
Basically he used bankruptcies to socialize his failures and default on his debtors. Easy to do once you (or your dad) is past the mere multi-millionaire mark, bankers, lawyers and finance bro’s will help you (for a commission) of course. Debtors are out of luck since the US legal system is basically about richest man wins.
Rich he may be, evil : definitely. Then again, you don’t get to a seat of power without being a self-centered psychopath with a lack of empathy for anyone but yourself. He just sucks at hiding it, most CEO’s and politicians are usually better at hiding that part of their personality.
Re: MAGA is a selection process for chumps
Just jail any elected official for the term of their office, as soon as they're elected. It'll save time and money all round.
I despair for Humanity...
Honestly, I despair for humanity. There are people out there who can look at this, and not instantly see "SCAM" written in letters large enough to be viewed from space??? I know most of them are just jumping on now, in the hope of riding the big wave, and then selling everything to some other schmuck before it all crashes and burns. But still...
And I might be wrong, but it definitely feels like Melania ist pranking Trump, no? Maybe she's trying to build up her own capital for the inevitable Post-Trump years...
Would the Aliens mind arriving some time soon, before things really hit rock bottom...
Re: I despair for Humanity...
If the aliens had any sense they'd walk on by and ignore us.
Re: I despair for Humanity...
Well, I recently noticed that the entry for 'Earth' in the HHGttG has been automatically updated (a security fix) and now reads 'Mostly helpless'.
Re: I despair for Humanity...
Maybe the Aliens bought at $0.01 and cashed out earlier today? I mean if they built the pyramids, they can surf a pyramid selling scheme, Shirley?
Re: I despair for Humanity...
Or build a hyperspace bypass right through the place.
Re: I despair for Humanity...
Presumably everyone knows. There are just hoping that they are not at the bottom of ‘the greater fool’ pile.
Re: I despair for Humanity...
I’ve never metaphor I didn’t like
Re: I despair for Humanity...
Isn't this exactly how most crypto currencies work? Most of those "investing" are complicit and fully on board with the scam. They just reckon they won't be the mugs left holding the worthless bits at the end.
As for the rest of the "investors", well, a fool and his money, as they say.
All a Scam
Who just "launches" a cryptocurrency? It's a scam to avoid, I reckon. Beware of snake-oil salesmen.
Re: All a Scam
Yes, but who's being scammed? Cryptobois (or whatever they're called) and MAGA fools. If they lose big time, who's going to cry?
Re: All a Scam
That or a way to launder bribe money without anyone tracing the origin.
Must be a family thing
His 2 sons Erik and Donald Jnr also launched their own scams last year. (Erik is spelt as such on the Beeb webpage, am assuming it is correct)
Re: Must be a family thing
Don't forget Melania.... She who has been a ghost for the last 4 years launched her own Crypto Currency.
It bombed as well yesterday like the Orange Jesus's brand.
All his cabinet will be joining in the GRIFT of the MAGA braindead/cult. Well, all apart from Vivek. He seems to have been given the elbow before Trump V2.0 becomes official.
But swearing in on a 'Made in China, Trump Bible" is really the pits.
Pump & Dump
Lots of mugs are going to lose their stake here and a filthy rich liar will get even richer.
Re: Pump & Dump
Presumably the sort of people to invest in a Trumpcoin will be those who voted for him, so if the exercise makes them poorer then it's their own fault?
Now, investing in Melania, there's something different. If I buy up all the coin, do I own her?
Re: Pump & Dump
'If I buy up all the coin, do I own her?'
Beware. You would be a chained bloke.
Magic Beans
Where will the beanstalk take us?
Just the most reprehensible individual
And so begins the reign of Trump II.
Re: Just the most reprehensible individual
Welcome to the Scamocracy (2025 to who knows)
The third knock...
These tribulations normally come in threes.
We already had (1) Crypto, now have (2) AI and I dread what the third will be. Certainly isn't that feeble excuse of anything that is to be "the leader of the free world."
The possibles range from daunting to outright horrific.
Pardons
At this rate, he'll be pardoning Sam Bankman-Fried and inviting him to be his personal investment advisor
Re: Pardons
Are there not previous snake-oil scheme links to Martin Shkreli?
I love the blatant nature of making it impossible to convict the president and then just straight up scamming your own people. Anyone who voted for him is a mark, no other angle is necessary.
If $TRUMP doesn't float your boat ...
There's always $MELANIA.
Who says illegal immigrants can't do well in the USA?
What's in a name
"First Lady Melania Trump launched her own meme coin..."
So that would be $TRUMP vs. $TRUMPET then...
How long till we also get the Prez Dwayne Camacho Erektil Disfunkz Pilz from this lot?
MAGA is a selection process for chumps
Once Trump has identified the chumps, he can milk them.
It's a great business model, possibly the only successful one he's ever come up with.