In tuxedos and floor-length gowns, crypto executives and adherents spilled through the Andrew W. Mellon Auditorium in Washington on Friday (US time), ready to toast the inauguration of Donald Trump – a leader who promises to become the most crypto-friendly US president.
Crypto executives and adherents celebrated the inauguration of Donald Trump on Friday (US time), toasting the arrival of a leader who promises to become the most crypto-friendly US president.
“The reign of terror against crypto is over,” roared David Sacks, the venture capital executive appointed as Trump’s crypto tsar.
Bitcoin has rocketed since Donald Trump’s decisive election victory. Credit: Bloomberg
But just how pro-crypto can a president be? That same evening came the launch of a Trump meme coin – a virtual token that appears to offer direct financial benefit to the president-elect’s family. The token’s market value surged to about $US5.6 billion ($9 billion) by Saturday afternoon – which could mean a windfall of billions of dollars, at least on paper, for Trump-linked entities that own most of it.
“$Trump is currently the hottest digital meme on earth,” Eric Trump wrote on X. “We are just getting started!”
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