22.01.2025 13:24
The memecoin initiative $TRUMP by U.S. President Trump reached a value of billions of dollars upon its launch. This situation highlighted Trump's personal profits and raised ethical discussions.
Before taking office, Donald Trump's $TRUMP memecoin, which he launched, quickly gained significant value and attracted attention. The billions of dollars in profits and the subsequent market fluctuations increased the speculation and ethical questions surrounding this new cryptocurrency.
Trump's Cryptocurrency Reached 14 Billion Dollars
The $TRUMP memecoin, launched under the name of U.S. President Donald Trump, made a big splash in the cryptocurrency markets. The cryptocurrency, which entered circulation just before he took office, recorded a remarkable rise in a short time.
At its peak, the market value of the cryptocurrency reached 14 billion dollars, theoretically contributing billions of dollars to Trump's wealth. However, the actual profits that the former president gained from this investment remain uncertain.
In a press conference held at the White House, Trump stated, "I have no idea how much I made from the memecoin. I just heard that the project we started is successful." When asked how much profit he made, Trump's response to the several billion dollar figure was, "A few billion dollars is pocket change for the people here."
On the other hand, the market fluctuations and allegations that Trump sold some of his assets brought discussions of price manipulation. The lack of expected interest in the $MELANIA token issued in the name of Trump's wife, Melania, also raised questions among investors.
With Trump's assumption of office, his failure to take a clear stance on cryptocurrency policies and implement the expected regulations also drew attention. During this period, Bitcoin rose to as high as 109,000 dollars before losing value. The launch of the cryptocurrency $TRUMP by the U.S. president led to fluctuations in the overall cryptocurrency markets.