The TRUMP cryptocurrency significantly boosted Donald Trump's wealth in a short period, drawing both attention and criticism.
Trump's Wealth Expansion
According to Arkham Intelligence, Donald Trump's net worth increased by $28 billion thanks to the TRUMP coin. Originally traded at $7, the token soon rose to $28, boosting its market cap to $27 billion.
Reactions to TRUMP Launch
The launch of TRUMP just days before Trump's inauguration raised many questions. At an informal crypto ball, Trump's crypto czar David Sacks declared: 'The reign of terror against crypto is over. Innovation in America for crypto has just begun.'
Critics' Concerns
Some critics believe the TRUMP coin poses a threat to smaller investors. Anthony Scaramucci labeled the launch 'Idi Amin-level corruption.' Nick Tomaino warned about the harmful concentration of Trump's ownership. Actions by Trump's team, including token sales worth $500 million, might harm other investors. The official TRUMP website insists the token isn't an investment opportunity.
Donald Trump's TRUMP coin launch caused various reactions, from ethical concerns to fears for small investors. Solana, using the network for TRUMP, saw a 16% price rise.
