By <a class="c-link lrv-u-color-black lrv-u-color-brand-primary-dark:hover lrv-u-text-decoration-underline:hover lrv-u-text-transform-uppercase" href="https://www.rollingstone.com/author/pwade/" > Peter Wade</a> <br> President-elect <a href="https://www.rollingstone.com/t/donald-trump/" id="auto-tag_donald-trump" data-tag="donald-trump" >Donald Trump</a>‘s <a href="https://www.rollingstone.com/politics/politics-news/trump-meme-crypto-coin-inauguration-1235240227/" >new cryptocurrency token</a> has made him a billionaire many times over, but concerns remain over the ethics of the scheme in light of his presidency.<br> <a href="https://www.axios.com/2025/01/19/donald-trump-crypto-billionaire" rel="nofollow" target="_blank" >According</a> to Axios, Trump’s crypto holdings reached $58 billion in worth on paper that when put together with his other assets could put him among the richest people in the world.<br> Trump announced the launch of the token, which he is calling “$TRUMP,” on Friday by inviting his followers to “Join my very special Trump Community.” The <a href="https://www.rollingstone.com/t/cryptocurrency/" id="auto-tag_cryptocurrency" data-tag="cryptocurrency" >cryptocurrency</a>‘s slogan reads: “Join the Trump Community. This is History in the Making!”<br> Marketing materials for the coin depict Trump with a raised fist following the assassination attempt against him this past summer with “FIGHT FIGHT FIGHT” and Trump’s signature superimposed over the image.<br> Created by CIC Digital LLC — an affiliate of the Trump Organization that has sold <a href="https://www.rollingstone.com/politics/politics-features/trump-watches-coins-crypto-guide-election-grifts-1235113285/" >other Trump merchandise</a>, including a “God Bless the USA Bible,” Trump sneakers, cologne commemorating the assassination attempt and $100,000 diamond watches — the token began trading at $10 each on Friday but reached $70 by Sunday morning, <a href="https://apnews.com/article/trump-crypto-meme-coin-token-75bf67ef9e6e54bf455f2f9f03470be3" rel="nofollow" target="_blank" >according</a> to <em>The Associated Press</em>. The Trump Meme website states that the Trump Organization owns 80 percent of the cryptocurrency, and it says they will slowly release more over the next three years while profiting from “trading revenue” generated by the sales. <div class="admz" id="adm-inline-article-ad-1"> <div class="adma boomerang" data-device="Desktop" data-width="300"> <div style="min-width:50px;min-height:75px;" class="pmc-adm-boomerang-pub-div ad-text" data-priority="10" > <div id="gpt-dsk-tab-article-inbody-uid0" class="adw-300 adh-250" data-is-adhesion-ad=""> <script type="application/javascript">
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