President-elect Donald Trump‘s Saturday launch of the meme coin TRUMP (CRYPTO: TRUMP) has caused a stir in both the crypto industry and among government watchdogs.
What Happened: The meme coin’s market value soared to $5.6 billion within just 24 hours of the launch, suggesting a potential financial boon for entities linked to Trump.
The token, which provides direct financial advantages to the president-elect’s family, has drawn immediate backlash from government watchdogs. They perceive it as a violation of ethical standards and a way for the president-elect to monetize his international prestige.
The TRUMP meme coin, unlike other digital assets, is not tied to any underlying business. This makes it a highly speculative investment for investors and potentially extremely lucrative for its creators.
As per the Benzinga Pro data, the meme coin’s market value reached $14.2 billion early Sunday, nearly tripling from $4.9 billion just 12 hours prior.
The meme …Full story available on Benzinga.com
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