The crypto project connected to United States President Donald Trump, World Liberty Financial (WLF), has raised $1bn in token sales, while a new Trump meme coin also soared to more than $10bn in market value as Trump took office for his second term.WLF made the announcement on Monday, the day Trump was sworn in as president.
The boom in Trump-related crypto ventures comes as he promises to usher in a “golden age” for cryptocurrencies, in stark contrast with the regulatory scrutiny of the industry enforced under the administration of former President Joe Biden.
WLF, promoted and formed by Trump, his sons and Trump’s new special envoy to the Middle East, Steve Witkoff, was launched two months before the US election.
Trump’s new meme coin, branded $TRUMP, was launched on Friday night during the first-ever Crypto Ball in Washington, DC, in conjunction with inauguration festivities. The coin surged on Monday from less than $10 on Saturday morning to as high as $74.59 before giving up some of its huge rise. Advertisement
The new coin expanded Trump’s cryptocurrency interests beyond WLF.
Melania Trump launched her own coin, $MELANIA, on Sunday. Its rally pushed its market cap well beyond $1bn.
Four-fifths of Trump coin’s tokens are owned by CIC Digital, an affiliate of Trump’s business, and another entity called Fight, Fight, Fight, according to its website. It says the coins are “an expression of support for, and engagement with, the ideals and beliefs embodied by the symbol ‘$TRUMP’” and are not an investment or security.
The launch of WLF just two months before November’s US election raised concerns over ethics and co …
