President-elect Donald Trump has taken another step into the crypto world with the launch of a Solana-based meme coin called Official Trump (TRUMP).

While the launch has generated significant trading activity, it has also raised questions about legitimacy, allocation, and potential security risks.

Trump’s ‘Official’ Meme Coin

On January 18, Trump announced the launch of a TRUMP meme coin on his official X and Truth Social accounts.

“My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community,” the President-elect wrote on X.

The meme coin, as detailed on its website, draws inspiration from his survival of an alleged assassination attempt on July 13, 2024, during his campaign. The token’s meta image depicts Trump with a raised fist and the slogan “Fight, Fight, Fight,” echoing his actions on that day.

“This Trump Meme celebrates a leader who doesn’t back down, no matter the odds,” the website stated.

The project’s website outlines the tokenomics as a total supply of 1 billion tokens that would be unlocked over three years. Currently, 200 million tokens are available for trading, with only 20% allocated for public circulation and liquidity.

The remaining 80% is distributed among six groups, including CIC Digital Groups, a company owned by Trump’s trust that has previously managed Go to Source to See Full Article
Author: Oluwapelumi Adejumo