The latest news about Trump's cryptocurrency, TRUMP coin

Views:100 Time:2025-01-22 23:02:37 Author: NiceNIC.NET

The latest news about Trump's cryptocurrency, TRUMP coin

1. Launch and issuance of TRUMP coin

Launch time: On January 18, 2025, local time, two days before Trump was sworn in as the US president, he posted on his social account announcing the launch of his personal official cryptocurrency "Trump coin" (TRUMP coin).

Issuance details: TRUMP coin uses an artistic illustration of Trump shaking his fist as an image, symbolizing his strength and action after the assassination attempt in 2024. Once the currency was launched, it triggered market enthusiasm and widespread controversy. Its initial circulation is 200 million, and the circulation is expected to reach 1 billion within three years, which will be gradually increased in three years.

2. Market reaction and price fluctuations
Surge: The opening price of TRUMP coin was only $0.1824, but it was hyped to $38.33 in less than 90 seconds, an increase of more than 20,000%. Subsequently, its price continued to rise, reaching a very high level at one point.

Roller coaster market: Although TRUMP coin's initial increase was amazing, it also experienced significant fluctuations afterwards. It is reported that its price once fell by 40%, but then rebounded. This "roller coaster" trend has touched the hearts of investors around the world.

III. Investor performance and returns
Big investors make profits: According to data from data analysis company Nansen, as of 12:00 on January 20, 2025, five of the top 15 holders of "Trump Coin" have already liquidated their positions, and the remaining ten have also sold most of their positions and made a lot of money. Many of these big investors are users who entered the TRUMP Coin at the earliest stage.
Retail investors have different profits and losses: For small retail investors, the market performance of TRUMP Coin is more complicated. Some people have posted hundreds or thousands of times of return, but some people have unfortunately exploded and returned to zero. This reflects the high risk of the cryptocurrency market.

IV. Controversy and criticism
Conflict of interest doubts: Trump's launch of TRUMP Coin before taking office has raised questions about conflicts of interest. Some critics believe that this violates the tradition that US presidential candidates should draw a clear line between personal financial affairs.
Moral issues: The legality and morality of TRUMP Coin have also become the focus of attention. Some people believe that Trump has used the president's international influence to make profits for himself, blurring the line between the role of the government and commercial interests.
Public reaction: Eric Voorhees, founder of the cryptocurrency exchange ShapeShift, called Trump Coin "stupid and embarrassing." Even Trump's supporters have expressed different opinions in this cryptocurrency carnival, believing that the issuance of Trump Coin has caused the United States and the US president and his family to lose a lot of credibility.

V. Subsequent development
Trump's attitude: At the press conference, Trump said that he knew little about the details of the issuance of "Trump Coin" and even needed to consult reporters about how much money he made on cryptocurrencies. This statement of eagerness to distance himself from the relationship has not been recognized by the cryptocurrency circle.
Market outlook: Although TRUMP Coin has caused market frenzy in the early stage, its market performance in the long run is still very uncertain. The volatility and high risk of the cryptocurrency market mean that investors need to be cautious.
In summary, Trump's recommended TRUMP Coin has aroused widespread attention and controversy in the market after its launch.

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