Trump launches meme coin, $TRump days before return to White House

Hours after its launch, the market capitalisation for $Trump reached nearly $5.5bn (£4.5bn).

British Broadcasting CorporationWatch LiveHomeNewsSportBusinessInnovationCultureArtsTravelEarthVideoLiveHomeNewsIsrael-Gaza WarWar in UkraineUS & CanadaUKUK PoliticsEnglandN. IrelandN. Ireland PoliticsScotlandScotland PoliticsWalesWales PoliticsAfricaAsiaChinaIndiaAustraliaEuropeLatin AmericaMiddle EastIn PicturesBBC InDepthBBC VerifySportBusinessExecutive LoungeTechnology of BusinessFuture of BusinessInnovationTechnologyScience & HealthArtificial IntelligenceAI v the MindCultureFilm & TVMusicArt & DesignStyleBooksEntertainment NewsArtsArts in MotionTravelDestinationsAfricaAntarcticaAsiaAustralia and PacificCaribbean & BermudaCentral AmericaEuropeMiddle EastNorth AmericaSouth AmericaWorld’s TableCulture & ExperiencesAdventuresThe SpeciaListEarthNatural WondersWeather & ScienceClimate SolutionsSustainable BusinessGreen LivingVideoLiveLive NewsLive SportHomeNewsSportBusinessInnovationCultureArtsTravelEarthVideoLiveAudioWeatherNewslettersTrump launches cryptocurrency with price rocketingGetty ImagesUS President-elect Donald Trump has launched his own cryptocurrency, which quickly soared in market capitalisation to several billion dollars.

His release of the meme coin, $Trump, comes as he prepares to take office on Monday as 47th president of the US.

The venture was co-ordinated by CIC Digital LLC - an affiliate of the Trump Organization - which has previously sold Trump-branded shoes and fragrances.

Meme coins are used to build popularity for a viral internet trend or movement, but they lack intrinsic value and are extremely volatile investments.

By Saturday afternoon, hours after its launch, the market capitalisation for $Trump reached nearly $5.5bn (£4.5bn), according to CoinMarketCap.com.

https://www.bbc.com/news/articles/c9vmym2jvy9o

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