WASHINGTON: President-elect Donald Trump has unveiled a new cryptocurrency, a meme coin, in a surprise announcement just days before his inauguration.
New Venture for Political Comeback
Trump shared the news on Social Truth, writing: “My NEW Official Trump Meme is HERE! Celebrate WINNING!” The announcement included a link guiding users on purchasing the coin.
The coin, named $TRUMP, is described as a fungible cryptocurrency developed on the Solana blockchain. According to the project’s website, 200 million coins are now available. The total supply will reach one billion over three years. This timeline coincides with Trump’s presidential term.
Background on Meme Coins
Dogecoin, featuring a Shiba Inu, is the most famous example. Originally a joke, Dogecoin gained value after Elon Musk’s endorsements. Its success inspired various projects.
Legal Disclaimer
The Trump Meme website includes an important legal notice. It clarifies the coin is not an investment vehicle, security, or financial contract. The venture is operated by Fight Fight Fight LLC, a Delaware corporation recently created.
Supporters and Critics React
Trump supporters expressed enthusiasm, calling the coin a unique opportunity to rally around his political agenda. Critics, however, view it as another example of monetizing Trump’s brand. They also raise concerns about potential financial risks for buyers.
