The TRUMP meme coin has caused Donald Trump's estimated net worth to increase by $28 billion overnight, making him $22.4 billion richer in crypto holdings alone. The coin traded at $7 per token at launch but quickly rose to $28, reaching a fully diluted valuation of $27 billion. The launch of the coin just days before Trump's inauguration has drawn scrutiny, with critics accusing him of blurring the lines between his presidency and personal profit. Furthermore, concerns have been raised about the level of ownership in TRUMP, with analysts pointing out that Trump's team has already offloaded $500 million worth of tokens. Despite this controversy, Solana saw a 16% price surge following the TRUMP launch on its network.



Other News from Today