New developments around the $TRUMP crypto, a currency based on Solana, arouse curiosity and questions. The initiative aims to celebrate Trump’s rise to the presidency, but raises doubts about his legitimacy. Experts are wondering about the potential dangers of this new cryptocurrency.
In the last few hours, Donald Trump’s official accounts launched $TRUMP, a meme coin based on the Solana platform and created to celebrate Trump’s installation in the White House. Some users are wondering about the possibility that this is a scam, even against the president-elect. At the moment, however, there are no concrete clues.
Donald Trump’s interest in cryptocurrencies was already known. THE June 9 in San Francisco, he announced that if elected, he would become the first crypto president. Since his election, bitcoin has crossed the $100,000 threshold for the first time. A few hours later, Reuters revealed that the first executive orders would be dedicated to cryptocurrencies.
What was perhaps less expected was the launch of a official cryptocurrency. Crypto, or rather crypto itself, is called $TRUMP. It was launched recently and its value is already booming. According to Coin Market Cap, the portal that tracks the performance of cryptocurrencies around the world, capitalization revolves around 6 billion dollars.
How $TRUMP, Donald Trump’s cryptocurrency, works
The launch of the $TRUMP crypto took place on X and on Truth, the social network launched by Trump: “It’s time to celebrate everything we represent: WINNING! Join my special Trump community”. From there, the post links to a landing page where a visibly thinner than usual Trump invites buy your own coin. In the jargon, these are cryptos created to celebrate something, the most famous case being that of Dogecoin.
-The crypto de Trump can be purchased by credit card or directly with other cryptos. It does not have an autonomous structure but is based on Solana, a Blockchain platform. According to the information provided by the portal, only 200 million $TRUMP will currently be issued, but it is expected to reach a billion in the future.
This is interesting for monitoring gains. This indicates that only 20% of the coins planned by the project were issued. The remaining 80% is held by CIC Digital LLC et Fight Fight Fight LLCboth linked to the Trump Organization.
Doubts about the $TRUMP scam
The question legitimately arises. We have already seen in the past phishing campaigns based on meme coins launched by hacked social profiles of notable personalities. The site Coin Central also asks the question and explains: “If Trump’s accounts had been hacked, this could become the most sophisticated scam in the history of cryptocurrencies”.
For now, writes Coin Central, a direction should exist : “The evidence seems to lean toward legitimacy, but in the world of cryptocurrencies, appearances can be deceiving.” Perhaps not just in the world of cryptocurrencies.
