President-elect Trump launched the first official cryptocurrency, and its value rose rapidly as the inauguration weekend began.
“My new official Trump meme is here! It's time to celebrate everything we stand for: victory! Join my special Trump community. Get Trump now,” the president-elect said. society of truth Friday night.
$TRUMP's price had risen 550 percent to nearly $30 by midday Saturday, giving it a paper market value of $30 billion since its launch. To CoinGecko.
President Trump's next artificial intelligence (AI) and cryptocurrency czar, David Sachs, hosted the first-ever “Crypto Ball” in Washington, D.C., on Friday night ahead of his inauguration.
The crypto industry is spending millions on the 2024 election and preparing a wish list for Trump's presidency. The Biden administration has been pursuing crypto giants such as Coinbase and Ripple, with President Biden taking office in 2022. signed an executive order It calls on government agencies to investigate the risks and benefits of cryptocurrencies.
Although Trump once downplayed cryptocurrencies as a “scam,” he embraced them on the campaign trail, becoming the first presidential candidate to embrace digital assets. Donors can donate to the Trump campaign through the Community Chest Committee using virtual currency accepted through the Coinbase Commerce product.
However, he said earlier this year that he would not allow the creation of a central bank digital currency if elected, calling it a “dangerous threat to freedom”.
