‘I will become a pro-cryptocurrency president’ pledge
Ranked 19th in cryptocurrency market cap as soon as it was launched, Donald Trump, the U.S. president-elect who pledged to ‘become a pro-cryptocurrency president’, has launched his own meme coin ahead of his inauguration.,
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, ‘On the 17th (local time), President-elect Trump announced on social networking services (SNS) like Truth Social and X (formerly Twitter), “Celebrate everything we support winning,” and urged people to “join the very special Trump community and acquire $TRUMP.” The homepage of the coin featured the phrase “The only official Trump meme.”‘,
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‘$TRUMP’ homepage,
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, ‘The Trump transition team did not comment on this, but his second son, Eric Trump, referred to the coin in an online post the next day as “the hottest digital meme in the world,” and President-elect Trump’s X account also retweeted it.’,
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, ‘According to CoinMarketCap, as of 4:32 PM Korean time on the 19th, this coin was trading at $45.91, up 230% from 24 hours earlier. Its market capitalization surged to $9.18 billion (about 13.4 trillion won), ranking 19th among all cryptocurrencies. Previously, the U.S. media outlet Fox Business reported that the price of the Trump meme coin, which initially was just a few cents, had already increased by 18,000% by the time it hit $33.87.’,
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, Meme coins refer to speculative cryptocurrencies created based on parodies or jokes without intrinsic utility. , “According to the Trump meme coin’s homepage, 80% of the coin’s circulation is held by two subsidiaries of the ‘Trump Organization’ (FightFightFight and CIC Digital), where his second son Eric serves as executive vice president.”,
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Donald Trump, U.S. president-elect, announcing the issuance of the meme coin in an X post,
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, ‘Some point out a potential conflict of interest since a significant portion of the profits from the coin price rise could accrue to the Trump Group. The Wall Street Journal (WSJ) mentioned the possibility of foreign governments or companies wanting to influence the U.S. purchasing the coin to win the favor of President-elect Trump. Some cryptocurrency exchanges, such as Kraken, have already begun supporting trades for the coin, and there are voices expressing hope for new investors entering the cryptocurrency market. The Trump meme coin being issued on the Solana blockchain network has also caused the price of the Solana cryptocurrency to soar.’,
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, ‘The cryptocurrency industry is expecting that President-elect Trump will implement favorable policies such as regulatory easing. The U.S. political media outlet Politico reported that cryptocurrency companies have spent up to $10 million (about 14.6 billion won) on Trump’s inauguration.’,
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