$TRUMP

(stylized in all uppercase) is a meme coin associated with U.S. President Donald Trump, hosted on the Solana blockchain platform

The Trump meme coin, $TRUMP (CRYPTO: TRUMP), is a token hosted on the Solana (CRYPTO: SOL) blockchain. It is named after former U.S. President Donald Trump, who is an affiliate of the project.

One billion coins were originally created; 800 million remain owned by two Trump-owned companies, after 200 million were released in an initial coin offering (ICO) on January 17. Less than a day later, the aggregate market value of all coins was more than $27 billion, valuing Trump's holdings at more than $20 billion.

The venture has faced widespread condemnation from ethics experts for Donald Trump's conflicts of interest related to the project and his presidential duties.

What Happened: The Trump meme coin launched on January 17, three days after Trump was inaugurated as president of the United States. The lack of a public announcement initially led to concerns that the cryptocurrency was a scam and might have no association to the president-elect.

Several hours later, Trump announced $TRUMP on his X (formerly Twitter) and Truth social accounts. The meme coin website described it as the "only official Trump meme".

Its logo is a cartoon image of Trump raising his fist after surviving the attempted assassination in July. A disclaimer said that the coin was "not intended to be, or the subject of" an investment opportunity or a security and was "not political and has nothing to do with" any political campaign, political office or government agency.

The terms of the offering also prevent coin buyers from joining any class-action lawsuits against the project and assert indemnity against any claims.

Trump promoted the coin on the night of its ICO while a "Crypto Ball" was being held.

After its launch, the coin's price soared by over 300% overnight.

Related Link: Melania Trump Launches Inoperability Chain Meme Token $Melania

Within two days, it became the 19th most valuable form of cryptocurrency in the world, with a total trading value of nearly $13 billion, and a total of $29 billion worth of trades based on a $64 value of each of the 200 million tokens issued by the afternoon of January 19th.

The New York Times reported that Trump affiliates controlled an additional 800 million tokens that, hypothetically, could be worth over $56 billion, potentially making Trump one of the richest people in the world at an estimated net worth of $63.8 billion.

On January 19, Trump's wife Melania launched her own meme coin, $Melania. The token is hosted on the Solana chain and is named after the former First Lady.