Trump’s Crypto News: How a Skeptic Became a Crypto Advocate

Trump, the newly elected President of the United States, is known for his independent style and subversion of traditional political rules. Now, he has set his sights on another controversial and opportunistic field: Crypto Assets. From an initial skeptic to a proactive embracer, Trump’s story with Crypto Assets reflects the complex landscape of political and financial games.

Trump’s stance on crypto assets has changed

Trump has not always been friendly to Crypto Assets. During his tenure as the previous president, he publicly criticized Bitcoin and other cryptocurrencies, calling them a “scam” and questioning their value and stability. He believes that cryptocurrencies lack regulation, are easily used for illegal activities, and pose a threat to the dominance of the US dollar.

However, over time, Trump’s attitude towards Crypto Assets has gradually changed. In 2022, he began to post positive comments about Crypto Assets on his self-created social media platform Truth Social, hinting that he may accept Crypto Assets as donations for his campaign. Prior to the election, Trump even announced loudly that he would accept Crypto Assets donations and incorporate them into his campaign funding .

Trump’s change in attitude towards Crypto Assets has deep political considerations behind it. The first purpose is to attract young voters, as Crypto Assets have a wide audience among the younger generation. Trump hopes to attract the support of this group of voters by embracing Crypto Assets. The second purpose is to raise campaign funds. Donations in Crypto Assets can bypass the restrictions of traditional financial institutions, providing a more flexible source of funding for Trump’s campaign activities.

What is the TRUMP meme coin?

On the morning of January 18, 2025, at 10 o’clock Beijing time, Trump announced the launch of his official personal meme coin TRUMP on Truth Social, and users can purchase the token by visiting the website “gettrumpmemes”. This news greatly stimulated the crypto community, with TRUMP’s market value soaring to about 700 million US dollars in less than 30 minutes. Subsequently, Trump’s official Twitter account also retweeted this news, pushing the market value of TRUMP token to exceed 30 billion US dollars that evening. As of the time of writing, the TRUMP token is priced at 11.82 US dollars, with a 24-hour increase of 8.33%. The TRUMP token reached a peak of 78 US dollars on the Gate.io platform, currently down 85% from its all-time high.

According to official sources, the creation of TRUMP is intended to support a unique understanding of the TRUMP brand and art, rather than as an investment tool. The issuance of TRUMP tokens is jointly planned by CIC Digital LLC of the Trump Group and Fighter Fight LLC, and TRUMP tokens are issued using the LFG technology stack in cooperation with Jupiter, with the remaining 8 billion TRUMP tokens expected to be unlocked within three years. According to on-chain data, the initial SOL funding source for developing TRUMP tokens came from the Gate.io platform. With the explosive growth of the token, Gate.io has also announced the opening of TRUMP token spot and perpetual contract trading, offering up to 50x leverage.

On March 23, Trump posted on his social platform Truth, saying, ‘I LOVE $TRUMP—SO COOL!!! The Greatest of them all!!!!!!!!!!!!!!!!’. Following this news, the TRUMP token briefly rose by over 10%, and the current increase has narrowed to 8%.

Future Outlook

Trump’s entry has brought new opportunities and challenges to the crypto asset market. The opportunity is that Trump’s support may increase the public awareness and acceptance of crypto assets, attract more investors into the market, and drive up crypto asset prices; the challenge is that Trump’s remarks and actions are often controversial, which may exacerbate the volatility of the crypto asset market. In addition, Trump’s regulatory attitude towards crypto assets is not yet clear, which may bring uncertainty to the market.

The story of Trump and Crypto Assets is a microcosm of the political and financial game. In the future, how this game develops will have a profound impact on the crypto asset market and even the global financial . We wait and see.