In a move that surprised the entire cryptocurrency market today, the new President of the United States, Donald Trump, launched his own memecoin.
After Trump first shared the launch on Truth Social, it was thought for a while that his account had been hacked. However, the same post was shared on Twitter and then news of the listings started to drop from major cryptocurrency exchanges.
Interestingly, Trump made more money in one day from this memecoin launch than he had in his entire life so far.
According to Forbes estimates, President Trump’s total personal wealth was thought to be $5.6 billion in November 2024. After the launch of the memecoin, Trump’s wealth increased by $22 billion in one day, to approximately $28 billion. This means that, if Forbes estimates are correct, Trump’s wealth has increased fivefold thanks to the TRUMP memecoin.
However, this is assuming that he actually owns CIC Digital LLC and Fight Fight Fight LLC, which collectively own 80% of the TRUMP supply.
*This is not investment advice.
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