Trump’s New Crypto Token Surge Adds Billions to His Fortune

Islamabad:Newly elected U.S. President Donald Trump is taking the oath of office for a second time today, but his crypto token launch, announced just two days prior to the inauguration, has significantly boosted his wealth.

On Friday night, Trump unveiled a meme coin cryptocurrency named $TRUMP, which has quickly skyrocketed, with its market capitalization reaching $12 billion. In the past 24 hours alone, its trading volume has exceeded $40 billion.

The price of one $TRUMP token was $10 on Friday, but by Sunday morning, it had surged to $70. Just two days after its launch, $TRUMP has become the 19th most valuable cryptocurrency in the world, with Trump’s company issuing 2 million tokens so far.

Alongside Trump, his wife, Melania Trump, also announced the launch of her own cryptocurrency on Sunday, and to date, $1.7 billion has been invested in it.

Before the launch of this cryptocurrency, Donald Trump’s wealth stood at $6.7 billion, but thanks to the meme coin, his fortune has risen by an additional $12 billion overnight. This surge in wealth is primarily due to the investments made by crypto investors in his meme coin.

With the launch of $TRUMP, Donald Trump has now entered the ranks of the world’s wealthiest individuals.

However, this overnight wealth boost has also attracted significant criticism. Analysts argue that the newly elected president has used his official status to promote a cryptocurrency for personal gain. Questions are being raised about whether it is ethical or legal for a U.S. president to leverage the attention and fame associated with the office for business purposes.

Meanwhile, experts in the cryptocurrency space are debating whether the massive investments in the $TRUMP coin will be sustainable in the long term. There are concerns that the token, which gained attention through artificial means, could lose value quickly, potentially leaving investors with substantial losses.