Cryptocurrency exchanges Binance and Coinbase announced the listing of $TRUMP, a memecoin promoted by President-elect Donald Trump, for spot trading. The coin is set to launch on Binance on January 19, 2025, at 8:30 UTC.
The $TRUMP token was released by CIC Digital LLC, a Trump Organization affiliate known for previous branded ventures. The coin’s release coincides with Trump’s preparation to take office as the 47th U.S. President on January 20.
By Saturday afternoon, $TRUMP’s market capitalization soared to $5.5 billion, according to CoinMarketCap.com. The memecoin, designed to celebrate Trump’s brand of leadership, is primarily owned by CIC Digital LLC and Fight Fight Fight LLC, which together hold 80% of the token supply.
The total supply of 1 billion tokens will be distributed over three years, with 200 million already issued. Despite its hype, $TRUMP’s website includes a disclaimer, stating it is not a political campaign tool, investment opportunity, or security.
Critics have raised concerns about the coin’s timing and ownership concentration. Nick Tomaino, a crypto venture capitalist, described it as “predatory,” warning that retail investors could face losses due to market volatility.
Trump’s past skepticism about cryptocurrency has shifted, with promises to make the U.S. a global crypto leader. Industry players hope his administration will support crypto amid regulatory crackdowns under President Biden.
Trump’s launch marks a bold intersection of cryptocurrency and political branding, further stirring debates in the volatile memecoin market.
