Donald Trump announced on Friday night that he was launching his own cryptocurrency, $TRUMP, which caused a stir among potential buyers, causing its total value to rise to several billion dollars in a matter of hours.

In a post on his social network Truth Social, as well as on the X platform, the president-elect introduced this new digital currency as a “meme coin”, which has no economic or transactional utility and is often considered a purely speculative asset.

Within hours of Trump’s launch, the crypto community questioned the legitimacy of this new asset and its connection to Donald Trump.

But the fact that the announcements were posted on the president-elect’s official accounts and that one of the companies behind the project, CIC Digital LLC, had already been used by Donald Trump to sell NFTs (non-fungible tokens, digital assets), eventually dispelled the doubts.

Donald Trump or Fight Fight Fight LLC, the company spearheading the launch, did not provide details about the new product.

ORIENT news