Trump launches meme coin, apparently makes more than $25 billion overnight

[highplainsdem]

Source: Axios

President-elect Trump launched his own cryptocurrency overnight and swiftly appeared to make more than $25 billion on paper for himself and his companies.

Why it matters: The stunning launch of $TRUMP caught the entire industry off-guard, and speaks to both his personal influence and the ascendancy of cryptocurrency in his administration.

It also speaks to the nature of the crypto industry that someone could have $25 billion worth of something that literally did not exist 24 hours previously.

-snip-

The meme website says 80% of the supply is held by Trump Organization affiliate CIC Digital, and a CIC co-owned entity called Fight Fight Fight LLC. ("Fight fight fight" is what Trump said after being shot at a rally in July.)

-snip-

Read more: https://www.axios.com/2025/01/18/trump-meme-coin-25-billion

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I posted about this in GD last night soon after it launched, when there was a lot of uncertainty over whether it was a real launch of new crypto by Trump, or a scam by someone who'd hacked his Truth Social and X accounts.

https://www.democraticunderground.com/100219915178

And now Trump has increased his own wealth by billions overnight.

Trump's plans for crypto include ordering a government stockpile be created: https://www.pbs.org/newshour/nation/bitcoin-soars-past-100000-ahead-of-possible-trump-early-action-on-cryptocurrency

Trump also promised that as president he’ll make sure the U.S. government stockpiles bitcoin, much like it already does with gold. At the bitcoin conference earlier this summer, Trump said it the U.S. government would keep, rather than auction off, the billions of dollars in bitcoin it has seized through law enforcement actions.

Crypto advocates have posted a draft executive order online that would establish a “Strategic Bitcoin Reserve” as a “permanent national asset” that would be administered by the Treasury Department through its Exchange Stabilization Fund. The draft order calls for the Treasury Department to eventually hold at least $21 billion in bitcoin.

Republican Sen. Cynthia Lummis of Wyoming previously proposed legislation mandating the U.S. government stockpile bitcoin, which advocates said would help diversify government holdings and hedge against financial risks. Critics say bitcoin’s volatility make it a poor reserve.

Creating such a stockpile would also be a “giant step in the direction of bitcoin becoming normalized, becoming legitimatized in the eyes of people who don’t yet see it as legitimate,” said Zack Shapiro, an attorney who is head of policy at the Bitcoin Policy Institute.

[Traildogbob]

1. Total immunity

Can’t touch this! Da da da da…da da…da da 🎼🎼

[andym]

2. Will he make it the "coin of the realm?"

Will the US be on the $TRUMP coin standard soon instead of the dollar? As Trump frequently says: Why not? What could go wrong?
Will he soon be saying: "It's good to be king"? After all conflict of interest is not a phrase in his vocabulary. Trump will go down in history as catalyzing the decline of the US.

[forgotmylogin]

7. Trump wants his face on real money so bad.

I'm not exceedingly religious, but I think Jesus had the right approach.

Matthew 22:15-21

15 The Pharisees went away to work out between them how to trap Jesus in what he said. 16 And they sent their disciples to him, together with the Herodians, to say, ‘Master, we know that you are an honest man and teach the way of God in an honest way, and that you are not afraid of anyone, because a man’s rank means nothing to you. 17 Tell us your opinion, then. Is it permissible to pay taxes to Caesar or not?’ 18 But Jesus was aware of their malice and replied, ‘You hypocrites! Why do you set this trap for me? 19 Let me see the money you pay the tax with.’ They handed him a denarius, 20 and he said, ‘Whose head is this? Whose name?’ 21 ‘Caesar’s,’ they replied. He then said to them, ‘Very well, give back to Caesar what belongs to Caesar – and to God what belongs to God.’

[underpants]

9. His face in money - I think that nails it.

[Deep State Witch]

3. Just Like Kings and Emperors In Olden Times

He wants his likeness stamped on the coin of the realm.

[sop]

4. "It's the corruption, stupid!"

[Journeyman]

5. I wonder if we'll store all our hoarded bitcoins next to the tulips? . . .

[Dave Bowman]

26. Ah, the Tulip Mania. Good analogy.

Been wondering if and when this bubble will pop.

[Botany]

6. Who didn't see this coming? The crypto boys were in with The GRU & Russia in installing Trump.

Crypto is a scam. End of story.

[highplainsdem]

12. Still shocking to see it this blatant.

[Botany]

13. They are already starting to run commercials for bit coins on football games.

Crypto you give me your real money and then you get a worthless parking spot on the
cyber net.

J.D. Vance is the front man in this Ponzi scheme.

Letting the looting begin.

[angryxyouth]

8. Pay to play

A great way for foreign governments to enrich Trump for favors “anonymously”. It’s money but not money. It’s a gift but not a gift. We need to redefine the emoluments clause or at least enforce it.

[patphil]

10. What supports bitcoin? Electrons?

It seems to me that bitcoin is inherently unstable, and represents a terrific risk. I think it would be the height of stupidity to make it a "permanent national asset".

[StarryNite]

11. Musk better watch out,

pretty soon the felon won't need his money.

[bluestarone]

14. Next will be The ENTER Heaven coin.

With his GAWD (face) on the front and Bible on the back

[angrychair]

15. What the hell is going on

legislation mandating the U.S. government stockpile bitcoin

Feel like I'm having an aneurysm. I really am starting to believe I've woke up in one of the worst versions of the Earth multiverse.

I think the absolute insanity of what is happening right now is actually impacting my grip on reality.

[pfitz59]

16. Did someone actually pay $25 billion?

Or did he just pull that number out of his fat ass?

[cadoman]

23. no, it's just trading at that valuation

This occurs on instruments when liquidity is low. Say you have a supply of 200 million, but only 50k of it's actually being traded. Small fish can pass that 50k around at extreme valuations--and some of them will profit--but it's a bit of an illusion because there is a whale sitting in the background not participating.

Folks just don't have that much money to spend on stuff like this. I'd expect the amount that's traded to be in the low millions. Consider that a candidate for POTUS struggles to raise just $1 billion with a full team and the country's full attention.

One of the fun things about Solana is you can actually browse the activity and get an idea of how ownership sits:

https://solscan.io/token/6p6xgHyF7AeE6TZkSmFsko444wqoP15icUSqi2jfGiPN#analytics

[pfitz59]

17. 'Memecoin' with no real value

$25 billion value if every coin is sold. It's only value Ponzi-ish. What a load of crap.

https://www.msn.com/en-us/money/other/trump-launches-crypto-meme-coin-ballooning-net-worth-ahead-of-inauguration/ar-AA1xr2vm?ocid=BingNewsSerp

[Aussie105]

18. Trump can sell sand to someone living in a desert.

The gullible are easily separated from their American dollars.

Bitcoin and others are a sham, a scam, but if Overlord Trump says . . . I just created money out of thin air, the gullible will trade for it.
Real money for ephemeral money - no problems there, what could go wrong? lol

If the insanity flows on to the rest of the world, they will devalue the American dollar greatly, and do their money sums in stable currency.
Canadian dollar? The Euro, or Vietnamese Dong, possibly?

There may well come a time where you need to carry 3 or 4 different currencies in your wallet when you go shopping . . .

[I_UndergroundPanther]

27. Well all money is paper

It only has worth if people collectively believe it has worth.

[Linda ladeewolf]

19. I do not believe this qualifies

As an official act. He has not been sworn in yet. And making meme coin has nothing to do with his official duties as president. We’ll have to see what happens in the future.

[AZ8theist]

24. What happens? NOTHING.

The dictatorship starts on Monday.

[Linda ladeewolf]

33. He is

A wannabe dictator. We can stop a lot of what he tries, if we put enough pressure on our representatives. He can of course make lots of executive orders, but they can be rescinded by the next president. We can do a lot to tie his hands in the next election, I don’t believe he will have succeeded in destroying our system by then. Democrats must change our message by then. We have to learn fast and many of our leaders are literally too old to change.

[Xipe Totec]

20. Pump & Dump. nt

[jgmiller]

21. Why do his followers keep failling for the same con over and over?

Yes I know we flipantly say they are stupid but most aren't, maybe they aren't the smartest but still they aren't total idiots. He keeps running scams on them that cost them money they can't afford to lose and then they fall for it again.

He's going to make billons from what basically is his followers just giving him money hoping they will get rich but they will lose it all in the end. I was looking at a few Reddit forums and even the crypto crowd who usually falls all over themselves for these things realize this is nothing more than a ponzie scheme. Of course I think all crypto ultimately is a ponzie scheme but this really is.

[AZ8theist]

25. Disagree. The VAST MAJORITY of his followers are dumber than a box of rocks.

Including a shitload of congress persons.......

[Blue_Tires]

29. Because he hates the same people they hate

[CaptainTruth]

22. His grifting knows no end.

[Blue_Tires]

28. Donnie was not "shot at a rally." No evidence proves it.

And I really wish people would stop repeating that he was...

Crypto is a scam anyways. Nothing magically generates 25 billion dollars of "value" just by merely existing....

[SoFlaBro]

30. Stupid motherfuckers are exchanging fiat currency for the dogshit meme coin from Orange Fuckstain. Cash pours fucking in

[tetedur]

31. Is it "coin?" Is it not a "meme?"

https://gettrumpmemes.com/#tokenomics

"Trump memes are intended to function as an expression of, support for, and engagement with, the ideals and beliefs embodied by the symbol $TRUMP and the associated artwork, and are not intended to be, or to be the subject of an investment security, investment contract or security of any type."

Do people know what they are buying?

[JT45242]

32. A new way to give and take bribes

The crypto and tech bros just facts bunch of bribes ti buy whatever policy and government action they want.

The grift is so obvious, even Merrick Garland could see it and might be ready to prosecute in about 5 years.