Former President Donald Trump's cryptocurrency $TRUMP surpasses $10 billion market cap, sparking debate.

From Nasdaq

January 20, 2025 1:08:53 pm:

Former President Donald Trump has launched a cryptocurrency called $TRUMP, which has quickly surged to a market cap exceeding $10 billion. The “meme coin” saw its price rise to $74.59 before stabilizing near $46.93. Meanwhile, Bitcoin hit an all-time high of $109,071.86 amid optimism over Trump’s crypto-friendly policies.

The $TRUMP coin has sparked intense debate within the cryptocurrency industry, with concerns raised about blending political influence with speculative markets. Trump’s promise to reduce crypto regulatory hurdles has fueled a rally across digital assets, with 24-hour trading volumes for $TRUMP exceeding $41 billion. The tokens are hosted on the Solana blockchain.

$TRUMP and $MELANIA coins have attracted billions in trading volume, with Bitcoin reaching a record $109,071.86. Trump’s coin ranks as the 19th largest cryptocurrency by market cap. Regulators are likely to scrutinize the political use of cryptocurrencies, and market volatility is anticipated as speculative interest in meme coins grows.

Critics warn that the $TRUMP coin raises ethical and regulatory concerns due to its ties to Trump’s political position. The surge in $TRUMP and $MELANIA coins has invigorated the broader cryptocurrency market, reflecting heightened expectations for the industry’s future under Trump’s leadership. Regulatory oversight will be crucial as political cryptocurrencies blur the lines between governance, profit, and influence.

Read more at Nasdaq: Trump’s Crypto (COIN) Token Surges Past $10 Billion Amid Market Frenzy