The $TRUMP coin has quickly added $7.18 billion to Donald Trump’s wealth
The $TRUMP coin has quickly added $7.18 billion to Donald Trump’s wealth, thanks to a surge in its value. The coin, which was launched as a meme cryptocurrency, has gained significant attention, with its price reaching $36 per token and a market capitalization of $7.18 billion as of January 19, 2025. This growth has been remarkable, with the coin’s value increasing by over 1,000% since its launch.
The coin’s success is tied to its association with Trump’s brand. The idea behind the coin was confirmed by Eric Trump on social media, where he expressed excitement about the success of the $TRUMP coin and its potential to reshape the future of money, particularly in the decentralized finance (DeFi) space. DeFi allows users to trade and lend digital assets using automated software.
Trump and his sons launched a digital asset platform called World Freedom Financial in 2024, focusing on the DeFi sector.
The coin is tied to the Solana blockchain and is being released in phases, with an additional 800 million tokens planned for the next three years. This could potentially bring the coin’s total value to $24 billion by 2028.
Despite its success, the $TRUMP coin has drawn criticism from government watchdogs, who view it as a conflict of interest.
Trump has faced ongoing scrutiny over his financial holdings and their potential influence on his presidency. Critics argue that the coin could be seen as an attempt to profit from his political prominence.
The coin’s rise also raises questions about ethics in politics, as Trump’s business ventures and investments are closely linked to his political influence. He has a significant stake in Trump Media and Technology Group, which runs Truth Social, as well as various other investments in real estate and cryptocurrency businesses.
Also read : https://taazzaupdates.com/meta-layoffs-mark-zuckerberg-to-fire-3600-low-performers-says-will-recruit-new-individuals/
Top Stories | TCS Q3 largely in-line, SIP inflows hit a new record, uproar and more
Interestingly, several people close to Trump, including Scott Bessent (a crypto supporter and potential pick for Treasury Secretary), Howard Lutnick (a Bitcoin advocate and proposed Secretary of Commerce), and Elon Musk (a vocal supporter of Bitcoin), are all involved in the cryptocurrency space, signaling that Trump’s administration may have a pro-crypto stance.
Overall, while the $TRUMP coin has been a financial windfall for Trump and his family, it has raised important ethical questions about conflicts of interest and the merging of business and politics in the cryptocurrency world.
