Image: Laura Normand / The Verge
Donald Trump has launched a new meme coin, according to posts from his X and Truth Social accounts last night. The posts, which have come just days before Trump’s inauguration, were initially met with suspicion by many that his accounts had been hacked.
Skeptics highlighted by Decrypt last night pointed to several red flags, such as that the millions of dollars seeding the project came from Binance and Gate, which only serve overseas customers. The coin’s website credits the project to the same group behind Trump’s NFTs, as noted by Cointelegraph, which reports that sources close to Trump’s family confirmed the announcements’ legitimacy.
Both posts remain up as of this morning.
Screenshot: X
Trump’s official X account announced a new meme coin on Friday.
The idea that Trump would debut a meme coin is no big surprise, given his multiple NFT collections and his introduction of a crypto platform last year. He has made cryptocurrency a big part of his new agenda and has assembled a crypto and AI-focused tech policy team led by “crypto czar” David Sacks. Trump also plans to issue an executive order naming crypto a “national imperative or priority” after he’s inaugurated next week, Bloomberg reported ahead of the weekend.