On January 18, a meme-themed digital currency called “TRUMP” was launched, and the currency was marketed by the president’s personal account on the X platform.
Hours later, the market value of the currency reached more than $ 15 billion.
The momentum surrounding the currency then subsided after the launch of the “MELANIA” currency by the wife of US President “Trump”.
Recently, at a press conference on a joint project between “OpenAI”, “Oracle” and “SoftBank”, “Trump” confirmed that he did not follow the currency project closely and did not verify its success.
He admitted that he did not know much about the project, and asked about the market value of the currency, and when he received the answer that it was around $ 7 billion, he commented sarcastically:
This is trivial for these men
Referring to the company leaders present.
Controversy over the impact of the “TRUMP” coin
The “TRUMP” coin has drawn widespread criticism, with Mark Cuban describing it as a gamble that harms the legitimacy of the industry, while others have pointed to its lack of transparency and potential for market manipulation.
Financial institutions such as “TD Cowen” have warned that Trump’s involvement could hinder legislative progress in regulating cryptocurrencies.
The coin is currently trading at $43.02, after rising 18% in 24 hours, but it is still 41% below its highs.
