One Of Donald Trump’s Cryptocurrency Plans Before Taking Office Was To Promote a Meme Coin.

(VOR News) – President-elect Donald Trump introduced a novel cryptocurrency token in the days preceding his inauguration, which is currently experiencing a substantial increase in value.

If Trump were to encounter this virtual currency, his wealth would increase. Having previously facilitated the sale of branded Bibles, gilded sneakers, and diamond-encrusted watches, Trump has recently initiated his latest campaign contesting societal norms.

“This is the moment to commemorate all that we embody—success!” Late Friday night, President Trump shared a message on social media emphasizing the phrase “Join my very special Trump Community” and praising the newly introduced cryptocurrency tokens.

In addition to the phrase “FIGHT FIGHT FIGHT,” the most notable aspect of the marketing campaign is an image of Donald Trump raising his fist towards the sky. This refers to President Trump’s reaction to an assassination attempt that occurred during a campaign rally in July.

“Have fun!” Trump encouraged cryptocurrency meme money.

According to the website, the tokens are meant to be displays of support rather than a possible source of money, hence marketing them is not aiming at financial profit.

Still, some people have still trying to turn a profit despite this. But by Sunday morning, the value of every Trump joke coin had surged to practically seventy dollars. Every coin sold first for ten dollars.

Memorandum coins are a peculiar and extremely unpredictable part of the bitcoin market. They begin as a joke with no actual worth, but their price might skyrocket if a large number of individuals are willing to acquire them all at once.

Among all the cryptocurrencies, Dogecoin may have the most name recognition. Its emblem conveys emotions like “much wow” and shows a charming puppy. Con artists might take advantage of meme coins to fool unsuspecting investors and swiftly accumulate wealth.

Trump meme money’s meteoric growth has been met with widespread acclaim among cryptocurrency aficionados, who see it as a sign of the next president’s support for an industry that Biden’s administration unfairly targeted.

By appointing cryptocurrency enthusiasts to high-ranking cabinet positions, the US president has demonstrated his intention to enact legislation that is favorable to the cryptocurrency market.

There are many who are against the notion that foreign powers and private interests could attempt to use the Trump meme coin as a means to influence the president.

Anthony Scaramucci, who was the director of communications for the Trump administration before leaving, claimed during an appearance on X that “now essentially everyone in the world can deposit money into the bank account of the President of the United States of America with just a couple of clicks.”

Trump meme money is sold by cryptocurrency company CIC Digital.

According to the coin’s website, one billion coins are expected to be issued over the following three years while currently 200 million Trump meme coins are already available.

According to the token website, eighty percent of the Trump meme coins are owned by CIC Digital and another company together; they will get “trading revenue derived from trading activities.”

The Trump family company has made public an ethics agreement. The agreement stipulates that President Trump is not allowed to engage in “day-to-day” decision making at the Trump Organization while in office and that he is not allowed to be given any financial information regarding the company.

President Trump and his family were once engaged in the founding of a new company endeavor comprising bitcoin trading.

Apart from running tests using nonfungible tokens, sometimes known as NFTs, the newly elected president additionally claimed over the previous year that he had generated between $100,000 and $1 million from a set of digital trading cards featuring cartoon versions of him in the roles of astronaut, cowboy, and superhero.

Additionally challenging the accepted wisdom on what defines value is Truth Social, the social media platform Trump established.

The company is valued at more than $8 billion even if it is finding trouble raising its revenues. This is so because Trump’s followers are driving up the stock price, which increases his fortune since it also helps him.

SOURCE: AP

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