While most presidents focus on policy during their shift to power, Donald Trump launched a cryptocurrency. Not just any crypto – a meme coin on the Solana blockchain that surged 300% overnight after its January 17th, 2025 debut, just three days before his inauguration. Because why tackle inflation when you can create your own digital money?
In classic Trump fashion: tackle economic woes by creating your own digital money that makes you richer overnight.
The numbers are staggering. One billion tokens in total supply, with Trump-owned companies holding a whopping 800 million of them. That’s right – CIC Digital and Fight Fight Fight control 80% of the supply, valued initially at over $20 billion. Talk about a golden parachute.
Early investors watched the price rocket to $75 by inauguration day, pushing the market cap to $27 billion and ranking it 19th among cryptocurrencies. Then reality hit. The price tumbled 78% to hover between $12-$16. Like most meme coins, it demonstrates extreme volatility characteristic of assets with little real-world utility. Classic meme coin behavior – up like a rocket, down like a stone.
Meanwhile, the creators pocketed $350 million in just three weeks – $314 million from token sales and $36 million in blockchain fees. Not bad for a digital picture with the president’s face on it. The flip side? Over 813,000 wallets collectively lost $2 billion trading this digital rollercoaster. Ouch.
Ethics experts are having conniptions. Launching a speculative asset days before taking office? Bold move. Critics scream “conflict of interest” while supporters call it genius. The controversy prompted the MEME Act proposal to prohibit such ventures by public officials. This pattern resembles typical bear market behavior where assets often fall 70-85% from their peaks before stabilizing.
Regulators remain cautiously diplomatic, with the SEC describing meme coins as “akin to collectibles.” Trump’s administration seems crypto-friendly, signing an executive order for a Strategic Bitcoin Reserve and planning a White House crypto summit. The coin operates on a blockchain platform ensuring transparency and security for all transactions despite the price fluctuations.
On Truth Social, Trump promotes the coin to his 9.3 million followers. The community – now 650,000 holders strong – represents a curious blend of political loyalty and financial speculation. Part investment, part digital campaign button. All controversy.
