The launch of memecoin $TRUMP captured global attention due to the speed of its registration and market trends.
Speed of $TRUMP Token Registration on Exchanges
Crypto exchanges typically take time to list new tokens; however, after the launch of memecoin $TRUMP associated with President Donald Trump, an exception was made. Within 24 hours of its announcement, Coinbase added the token to its listings, while seven of the ten largest crypto exchanges registered it within 48 hours. This swift reaction surprised market observers.
Market and Performance of the Token
$TRUMP reached a market capitalization of $15 billion at launch but has since dropped to $1.9 billion. The majority of profit went to a small group of early investors, while most users suffered significant losses. 45 wallets investing in the token made approximately $1.2 billion in profits, while 712,777 wallets collectively lost $4.3 billion.
Regulatory Response and Conflicts of Interest
A day before the token's launch, New York authorities warned against investing in memecoins, citing high risk. Coinbase blocked access to the token for New York residents but allowed trading for other U.S. users. At the same time, concerns arose regarding potential conflicts of interest related to the president’s assets. In response to these concerns, it was stated that the assets are in a family trust and Trump does not manage them directly.
The launch of memecoin $TRUMP not only highlighted the rapid response of crypto exchanges but also raises important questions regarding regulation and the safety of investments in high-risk tokens.
