Trump Launches Crypto Meme Coin, Raking in Billions in Value
- US President-elect Donald Trump launched the $Trump meme coin just before his inauguration, which surged over 300% to nearly $6 billion in market capitalization within hours of its release.
- The $Trump meme coin's initial success positions it as a potential competitor to Dogecoin, which has a market cap of around $60 billion, according to a Forbes report.
- The venture was coordinated by CIC Digital LLC, an affiliate of the Trump Organization, which owns 80% of the tokens, raising ethical concerns about undue influence on a sitting president.
- Critics have described the launch as predatory, with concerns that it could harm investors, as noted by crypto venture capitalist Nick Tomaino.
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Coverage Details
Total News Sources0
Leaning Left24Leaning Right11Center17Last UpdatedBias Distribution46% Left
Bias Distribution
- 46% of the sources lean Left
46% Left
L 46%
C 33%
R 21%
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