Trump Launches Crypto Meme Coin, Raking in Billions in Value
- U.S. President-elect Donald Trump launched the $Trump meme coin just before his inauguration, which surged over 300% to nearly $6 billion in market capitalization within hours of release.
- The $Trump coin's rapid rise positions it as a potential competitor to Dogecoin, which has a market cap of around $60 billion, according to the report.
- The venture was coordinated by CIC Digital LLC, an affiliate of the Trump Organization, which owns 80% of the tokens, raising ethical concerns about undue influence on a sitting president.
- The launch of $Trump marks a significant moment in the crypto market, likely influencing future discussions about regulation and the role of meme assets in financial ecosystems, as stated in the report.
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Total News Sources0
Leaning Left24Leaning Right12Center18Last UpdatedBias Distribution44% Left
Bias Distribution
- 44% of the sources lean Left
44% Left
L 44%
C 34%
R 22%
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