Donald Trump appears to have launched a meme coin

Donald Trump launched a new meme currency, second placed by his X and Social truth count tonight. The posts, which came just days before Trump’s inauguration, were initially met with suspicion from many that their accounts had been hacked.

Skeptics highlighted by Decrypt last night indicated 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 noticed by Cointelegraph, what you do reports that sources close to the Trump family confirm the legitimacy of the ads.

Both posts remain open this morning.

The idea that Trump would debut a meme coin isn’t a big surprise, given his multiple NFT collections and its introduction of a crypto platform last year. He made cryptocurrency a big part of his new agenda and gathered a technology policy team focused on crypto and AI led by “crypto czar” David Sacks. Trump also plans to issue an executive order calling crypto a “national imperative or priority” after he is inaugurated next week, Bloomberg reported ahead of the weekend.