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$TRUMP Coin Surges 550% Within Hours

By Benjamin Abioye

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$TRUMP

President-elect Donald Trump has officially introduced his first cryptocurrency, $TRUMP which quickly gained significant value as his inauguration weekend began.

Trump announced the launch of $TRUMP on Truth Social, stating, “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW.”

Following its debut, the cryptocurrency, $TRUMP, experienced a dramatic surge of 550%, reaching nearly $30 by midday Saturday. Its market valuation skyrocketed to $30 billion, as reported by CoinGecko.

In celebration of this milestone, David Sacks, Trump’s incoming artificial intelligence and cryptocurrency advisor, hosted the inaugural “Crypto Ball” in Washington, D.C., on Friday night.

The cryptocurrency sector heavily invested in the 2024 election and is optimistic about Trump’s administration. Under the previous administration, crypto firms like Coinbase and Ripple faced scrutiny, with regulatory actions targeting the industry. In 2022, an executive order was issued to evaluate the risks and benefits of digital assets.

Despite once labeling cryptocurrency a “scam,” Trump reversed his stance during his campaign. He became the first presidential candidate to accept digital asset donations through Coinbase Commerce, allowing supporters to contribute to his fundraising efforts using various cryptocurrencies.

However, Trump has strongly opposed the creation of a central bank digital currency, calling it a “dangerous threat to freedom.”
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