Donald Trump's Foray into Cryptocurrency with TRUMP Coin

In a surprising move, United States President-elect Donald Trump has ventured into the world of cryptocurrency by launching a personal meme coin named TRUMP. This announcement, made on Friday, directed users of Truth Social to purchase the cryptocurrency through GetTrumpMemes.com. Initial doubts about the authenticity of this announcement were dispelled following a confirmation post on his X account.

TRUMP Coin's Rapid Market Success

The TRUMP coin quickly captured the market's attention, soaring to a market value exceeding $2 billion within hours. Built on the Solana blockchain, this cryptocurrency commemorates Trump's survival of an assassination attempt in July 2024. The website clarifies that TRUMP is intended as a symbolic token rather than an investment opportunity or political instrument.

Token Distribution and Future Plans

With a total supply capped at 1 billion tokens, the initial launch offers 200 million tokens to the public. The remaining tokens are slated for release over the next three years. It's reported that companies associated with Trump hold 80% of the tokens, which will be gradually unlocked according to a predefined schedule.