Launches $TRUMP memecoin days before inauguration - price rockets from $6.50 to $74

Just three days before his second inauguration, Trump launched his own cryptocurrency - the $TRUMP 'memecoin' - on the Solana blockchain. The token launched at approximately $6.50 and rocketed to a peak of $74.59 within 48 hours, briefly giving it a market capitalization of over $14 billion. Trump family entities reportedly own 80% of the token supply, meaning the vast majority of any value increase flows directly to Trump. The launch was followed hours later by a $MELANIA coin. Ethics experts immediately condemned the launch as an unprecedented conflict of interest: the incoming president was soliciting speculative investments from supporters while about to take office. The SEC, which Trump would soon control, regulates cryptocurrency. The launch exemplifies Trump's view that the presidency is a brand to be monetized rather than a public trust.

"My NEW Official Trump Meme is HERE! It's time to celebrate everything we stand for: WINNING!" — Trump's Truth Social post announcing the $TRUMP memecoin, January 17, 2025