'Member Trump "big announcement" and just released NFTs instead?
'Member Trump "big announcement" and just released NFTs instead?
Just hours after Gary Gensler left the SEC headquarter for the last time in his life...
... Trump showed the world what an outsized role crypto, and certainly memecoins, will have in his administration.
After nearly a year of frenzied speculation which of the dozens of Trump-linked memecoins the 47th president will pick as his own, just before 10pm ET on Friday night - and just two days before his inauguration as the 47th president of the United States - Trump stunned the world when he unveiled on his Truth Social and X accounts, his “official” meme coin, TRUMP...
... which in the 12 hours since its unveiling has surged to a $30 billion market capitalization, roughly three times bigger than Trump's other momentum chasing venture, DJT (whose market cap is $8.7 billion and has roughly the same amount of revenue or cash flow as the meme coin) as part of an exponential move that has seen its market cap rise (and occasionally fall) by a billion dollars every few minutes.
“My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW,” Trump wrote on his social media platform.
The token started trading at an opening price of $0.1824, but within 12 hours had jumped over 15,000%, trading at roughly $30 as of 10:00am ET, 12 hours after its launch. Its market cap stood at ~$30 billion at the time. . .
>Just hours after Gary Gensler left the SEC headquarter for the last time in his life...
>... Trump showed the world what an outsized role crypto, and certainly memecoins, will have in his administration.
>After nearly a year of frenzied speculation which of the dozens of Trump-linked memecoins the 47th president will pick as his own, just before 10pm ET on Friday night - and just two days before his inauguration as the 47th president of the United States - Trump stunned the world when he unveiled on his Truth Social and X accounts, his “official” meme coin, TRUMP...
>... which in the 12 hours since its unveiling has surged to a $30 billion market capitalization, roughly three times bigger than Trump's other momentum chasing venture, DJT (whose market cap is $8.7 billion and has roughly the same amount of revenue or cash flow as the meme coin) as part of an exponential move that has seen its market cap rise (and occasionally fall) by a billion dollars every few minutes.
>“My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW,” Trump wrote on his social media platform.
>The token started trading at an opening price of $0.1824, but within 12 hours had jumped over 15,000%, trading at roughly $30 as of 10:00am ET, 12 hours after its launch. Its market cap stood at ~$30 billion at the time.
.
.
[Source](https://www.zerohedge.com/crypto/trump-unveils-official-memecoin-late-friday-12-hours-later-it-16000-30-billion)
(post is archived)