This is the latest news about Trump Coin. President-elect Trump quickly seemed to make more than $25 billion on paper for himself and his businesses after launching his own cryptocurrency overnight. Why it’s important Both his personal influence and the rise of cryptocurrency in his administration are demonstrated by the stunning launch of $TRUMP, which took the entire industry by surprise.
The fact that someone could own $25 billion worth of something that essentially didn’t exist 24 hours ago further illustrates the nature of the cryptocurrency industry. Quickly catch up: Trump reportedly launched his own meme-linked cryptocurrency on Friday night while hosting a “Crypto Ball” for the industry in Washington.
According to his website, it is “the only official Trump meme.”
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Although several Trump-branded meme coins have surfaced in recent months, none have received his formal support as of yet.
Based on the figures: As of 11 a.m. ET on Saturday, $TRUMP was trading just over $32, up more than 600% overnight, according to CoinGecko price data.
The coin’s fully diluted market capitalization is slightly more than $32 billion as a result.
According to the meme website, CIC Digital, an affiliate of the Trump Organization, and Fight Fight Fight LLC, a co-owned company of CIC, own 80% of the supply. The phrase “fight fight fight” was uttered by Trump following his shooting at a rally in July. They are unable to sell all of their holdings at once because they are bound by a three-year unlocking schedule.
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