Donald Trump recently unveiled a new cryptocurrency token, $TRUMP, sparking a frenzy in the digital asset world. Marketed as his ‘Official Trump Meme,’ the token embodies Trump’s message of ‘winning’ and quickly gained traction, soaring by over 300% within hours of its launch, according to media reports. Amid the buzz, speculation has emerged about whether Barron Trump, Donald’s youngest son and a self-proclaimed crypto enthusiast, might be the brain behind this venture.
How $TRUMP soared?
From what is understood, $TRUMP was launched under CIC Digital LLC, an affiliate of the Trump Organisation. According to media reports, the project promises to align with the ideals Donald Trump represents, though it explicitly denies being an investment opportunity. Reportedly, CIC Digital holds 80% of the total token supply, which will be gradually released over three years, with Trump-affiliated entities earning trading revenue.
The token initially skyrocketed to $75 but has since settled around $44, boasting a market cap of $8.9 billion. The website emphasises the token is unrelated to any political campaign, yet it has become a lightning rod for controversy. Former Trump aide Anthony Scaramucci criticised the coin, likening it to “Idi Amin-level corruption.”
Adding to the intrigue, Melania Trump also launched her cryptocurrency, $MELANIA, shortly after $TRUMP. While $MELANIA achieved a valuation of $7.4 billion at its peak, its launch briefly caused a dip in $TRUMP’s price.
Who is Barron Trump?
As the crypto community speculates about the driving forces behind $TRUMP, attention has turned to Barron Trump, who holds a position as a ‘DeFi Visionary’ at the Trump-backed crypto venture, World Liberty Financial. Although there’s no official confirmation linking Barron to $TRUMP, Donald Trump has often spoken about his son’s keen understanding of the cryptocurrency world, fueling speculation that Barron may have played a role in conceptualising the token. Barron Trump, born in 2006, grew up in the limelight but has largely remained a private figure. After spending his early years in New York City, he moved to Washington, D.C., when his father assumed the presidency in 2017. Unlike Donald’s older children, who were heavily involved in their father’s political career, Barron maintained a low profile, focusing on his education. He graduated from high school in 2024 and enrolled at New York University, where he continues to live at Trump Tower while pursuing his interests, including cryptocurrency.
Trump’s crypto ambitions
The launch of $TRUMP coincides with Donald Trump’s return to the White House after defeating Kamala Harris in the 2024 election. With plans to issue executive orders supporting the cryptocurrency industry and potentially establishing a Bitcoin reserve, it seems like Trump has positioned himself as a pro-crypto president. As the $TRUMP token gains traction, its role as a symbol of Trump’s influence—both politically and financially—remains to be seen. Whether Barron Trump was directly involved or not, the launch has cemented the family’s foray into the growing world of digital assets.