The 47th President posted across his different official social media accounts the launch of the “$TRUMP” coin on the Solana Blockchain network, which reached a market cap of nearly $9 billion within hours of the announcement.
A source close to Trump’s family — speaking on condition of anonymity — confirmed to Cointelegraph that the project is legitimate and linked to his non-fungible token (NFT) ventures.
The crypto outlet added:
Large investors, or “whales,” also jumped in. One whale withdrew 61,205 SOL — worth over $14.3 million — from crypto exchange OKX to buy 1.27 million TRUMP tokens. Another spent 8.5 million USDC to purchase 1.03 million tokens at an average price of $8.28.
TRUMP traded at $18.82 at the time of writing, with a market cap of $4.28 billion, up 10,222% since launch and generating $1.71 billion in trading volume across 227,625 transactions, according to Dexscreener.
The project’s website outlines a total supply of 1 billion tokens, set to be released over three years. At launch, 200 million tokens, about 20% of which were unlocked, with the remaining 800 million gradually distributed over 36 months.
Tied to Trump’s NFT ventures, CIC Digital will receive 80% of the total supply in six allocations. These will unlock linearly over 24 months following an initial lock-up period of three to 12 months. The remaining tokens include 10% reserved for liquidity and 10% for public distribution, fully unlocked at launch.
Some people have already made massive returns. CryptoPolitan reported: ‘Just 90 seconds after Trump revealed the new token’s launch on Truth Social, he purchased 5.97 million TRUMP tokens. Later, he sold 543000 TRUMP tokens for roughly $404k, earning himself a $20 million profit.’
Popular investigative journalist Coffeezilla, who exposes a number of cryptocurrency scams and grifts, gave his additional thoughts on Trump’s memecoin, which he says has all the trappings of a classic pump-and-dump “rug pull” scheme.
Earlier this week, it was revealed that President Trump plans to immediately sign an executive order that would make cryptocurrency adoption a national priority and establish a federal crypto advisory council that would work with private sector crypto firms. A focal point of Trump’s campaign was the promise of making the U.S. the “crypto capital of the world,” and would push to add Bitcoin to U.S. strategic reserves, with some allies even touting selling gold reserves to buy Bitcoin.
AUTHOR COMMENTARY
If there was ever anything so symbolic of the current state of this sorry country, it would be this. Your President, the Head of State, the Commander-in-Chief, the possessor of the nuclear football, is literally operating a pump-and-dump crypto scam while sitting behind the resolute desk.
Proverbs 14:28 In the multitude of people is the king’s honour: but in the want of people is the destruction of the prince. [33] Wisdom resteth in the heart of him that hath understanding: but that which is in the midst of fools is made known. [34] Righteousness exalteth a nation: but sin is a reproach to any people.
What more can I say? The story speaks for itself. Nothing surprises me anymore: we officially live in Clown World; as Agent Orange “through covetousness shall” [he] “with feigned words make merchandise of you:” (2 Peter 2:3).
We are a nation of fools led about by fools; and the joke is on us.
And yet THIS is the man so many people, professing “Christians,” are pinning all their hopes on to come rescue them from ruination. What a joke!!
SEE: The Club: Trump Seen Acting Jovial With Obama At President Carter’s Funeral
Tokenization: The New World Order Monetary System To Digitize All Assets And Nature, Including You
Isaiah 30:1 Woe to the rebellious children, saith the LORD, that take counsel, but not of me; and that cover with a covering, but not of my spirit, that they may add sin to sin:
2 Corinthians 4:4 In whom the god of this world hath blinded the minds of them which believe not, lest the light of the glorious gospel of Christ, who is the image of God, should shine unto them.
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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1 Timothy 6:9 But they that will be rich fall into temptation and a snare, and into many foolish and hurtful lusts, which drown men in destruction and perdition.
1 Timothy 6:10 For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.