Trump’s new meme coin tops $10 billion market cap as he returns to office

There’s more to it than pure monetary gain for Trump. It’s a way of showing the world that he’s above the law.”

Finance professor Carol Alexander, of Sussex University, told The Sun

The cryptocurrency market gained additional popularity in recent hours due to the launch of the TRUMP and MELANIA cryptocurrencies just before the inauguration,

said Grzegorz Drozdz, market analyst at Conotoxia Ltd, in a statement

Meme cryptocurrencies, like these, are prone to large fluctuations and we generally consider them as speculative assets,

Drozdz at Conotoxia said

While it's tempting to dismiss this as just another Trump spectacle, the launch of the official Trump token opens up a Pandora's box of ethical and regulatory questions,

said Justin D'Anethan, an independent crypto analyst based in Hong Kong

Someone will lose money, some lawyer will come up with a theory and file, ... The memecoin launch is, from a purely political perspective, an enormous unforced error."

Byrne wrote, adding

Should public figures, especially those with such political clout, wield this kind of sway in speculative markets? That's a question regulators are unlikely to ignore,

he said

The fact that a president is doing this brings some sort of legitimacy to the space, and I think just means that the industry is moving ahead in a way it hasn’t for the last 10 years,

said Paul Howard, senior director at crypto market-maker Wincent

Anyone globally, even individuals who have been sanctioned by the U.S. or banned from our capital markets, can now trade and profit off of $TRUMP through various unregulated platforms,

U.S. House Financial Services Committee top Democrat Maxine Waters wrote

Norm Eisenformer White House ethics czar

He’s launching a major, new multibillion-dollar venture in the burgeoning crypto industry, where he has the most profound conflict of interest between [what] he’s seeking to gain and his duties to regulate that industry,

Eisen said

This is a horrible look for the industry already trying to make the case that we’re not a bunch of hucksters, scammers and fraudsters,

the unnamed lobbyist said

They’re plumbing new depths of idiocy with the meme coin launch,

Carter said

It’s absolutely preposterous that he would do this.”

Nic Carter, a general partner at a crypto investment firm and Trump supporter, told Politico

The rise of speculative assets such as the TRUMP and MELANIA memecoins diverts liquidity and increases market volatility,

Avinash Shekhar, co-founder and CEO of Indian trading platform Pi42, in comments to NEWS 18 ... said Avinash Shekhar, co-founder and CEO of Pi42

CIC Digital LLC, an affiliate of The Trump Organization, and Fight Fight Fight LLC collectively own 80% of the Trump Cards,

according to the $TRUMP website

My NEW Official Trump Meme is HERE! It's time to celebrate everything we stand for: WINNING!"

On Friday night, Mr Trump wrote on his social media platform Truth Social

Hand them a little crypto check, right? We’ll hand them a little bitcoin and wipe out our $35 trillion.”

He said

I just lost all my Solana. I think I got scammed [by] Melania,

the user said

This is beyond insane. Less than 48 hours after its launch, $TRUMP erased $7.5 billion in market cap within minutes of $MELANIA’s debut.”

Analysts from The Kobeissi Letter commented

The Official Melania Meme is live! You can buy $MELANIA now,

Melania Trump posted on the social platform X on Sunday