President-elect Donald Trump unveiled his official cryptocurrency, $TRUMP, which surged 550% to nearly $30 by midday Saturday, reaching a market valuation of $30 billion, per CoinGecko. Announcing the launch on Truth Social, Trump called on supporters to join his “very special Trump Community.”
David Sacks, Trump’s incoming AI and crypto czar, hosted a “Crypto Ball” in Washington, D.C., Friday, kicking off inaugural festivities. The crypto industry, which heavily backed Trump in the 2024 election, is gearing up for his presidency following Biden-era regulatory crackdowns on companies like Coinbase and Ripple.
Though Trump once criticized crypto as a “scam,” he embraced it during his campaign, even accepting digital donations via Coinbase Commerce. However, he opposes central bank digital currencies, calling them a “dangerous threat to freedom.”
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