Trump Backs New Meme Coin While Championing Pro-Crypto Policies Ahead of Possible Return to Office.
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Donald Trump standing proudly infront of a bunch of Bitcoins.
President-elect Donald Trump has once again defied norms, launching a new cryptocurrency token that has surged in value—potentially adding to his fortune—just ahead of his inauguration. Known for pushing unconventional products like branded Bibles, gold sneakers, and diamond-encrusted watches, Trump’s latest venture dives into the world of meme coins.
“It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community,” Trump announced in a social media post late Friday, promoting the tokens. The marketing features an image of Trump raising his fist, emblazoned with the words “FIGHT FIGHT FIGHT”—a nod to his defiant response following an assassination attempt at a July political rally.
Despite the website stating that the tokens are simply symbols of support, not investments, that hasn’t stopped buyers from jumping in. Originally selling for $10 each, Trump’s meme coin soared to nearly $70 by Sunday morning before plunging later in the day—coinciding with the launch of a similar token tied to Melania Trump. By Sunday afternoon, the Melania meme coin was trading at around $5.
For Trump supporters and crypto enthusiasts alike, it’s another wild ride—whether for fun, profit, or political hype.
Donald Trump speaks at the Bitcoin 2024 Conference July 27, 2024, in Nashville, Tenn. (AP Photo/Mark Humphrey, File)
Trump’s Meme Coin Sparks Crypto Frenzy—and Controversy
Meme coins are a wild, unpredictable part of the crypto world—often starting as jokes but surging in value if enough people jump in. Dogecoin, with its iconic “much wow” Shiba Inu mascot, is a prime example. But while some see them as fun, others warn they can be tools for scammers looking to cash in on hype.
Trump’s meme coin release has excited crypto enthusiasts, who view it as a sign of his commitment to pro-crypto policies after an industry crackdown under Biden. He’s already promised friendlier regulations and appointed crypto advocates to key government roles.
Critics, however, warn the coin could open doors for foreign influence. “Now anyone in the world can essentially deposit money into the U.S. president’s bank account with a couple of clicks,” said former Trump aide Anthony Scaramucci.
The sale is led by CIC Digital, an affiliate of the Trump Organization, which controls 80% of the tokens and earns revenue from trading. The plan is to release 1 billion coins over three years.
This isn’t Trump’s first crypto venture—he’s previously launched NFTs and earned up to $1 million from digital trading cards featuring himself as a cowboy, astronaut, and superhero. Meanwhile, his social media platform, Truth Social, continues to defy financial expectations, soaring to an $8 billion valuation despite struggling to generate revenue.
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