Lucía Peña
During a Tuesday press conference, President Donald Trump fielded questions about his recently launched memecoin, which debuted last Friday evening.
“I don’t know much about it other than I launched it,” Trump remarked. “I’ve heard it’s been very successful, but I haven’t personally checked.”
When informed by a reporter that the memecoin, TRUMP, had generated billions of dollars in value over the past few days, the president quipped, “Several billion? That’s peanuts for these guys,” gesturing to SoftBank’s Masayoshi Son, OpenAI’s Sam Altman, and Oracle’s Larry Ellison, who were present in the room.
The Associated Press reported that during the same event, Trump promoted a collaborative venture between OpenAI, Oracle, and SoftBank, named Stargate, which aims to invest up to $500 billion in AI infrastructure. Stargate plans to build data centers in Texas, a state renowned for its affordable energy, which also makes it a hub for Bitcoin mining operations.
Trump and Melania’s Memecoin Rivalry
President Trump officially launched the TRUMP memecoin on January 17 through his social media channels, just days before his inauguration. The Solana-based token initially soared to a market cap of $13 billion over the weekend but later stabilized at around $8 billion.
The token faced a 50% decline on Sunday following the unexpected launch of First Lady Melania Trump’s own memecoin, leading to speculation that insiders within the Trump family may hold significant portions of both tokens’ supplies.
President Trump is reportedly planning to issue an executive order to designate cryptocurrency as a national policy priority. Additionally, he has named David Sacks as his administration’s crypto czar.
However, experts warn that the TRUMP memecoin’s success could complicate bipartisan efforts to introduce comprehensive crypto market structure legislation. TD Cowen noted that investigations into the memecoin could intensify partisan disagreements over crypto policy.
Alexander Blume, CEO of Two Prim Digital Assets, commented on the potential implications:
“While the success of TRUMP memecoin strengthens Trump’s interest in the crypto industry, it also risks turning the focus toward speculative trading rather than meaningful financial reform.”
Widespread Listings and Price Movement
Major cryptocurrency platforms, including Coinbase and Robinhood, have listed the official TRUMP memecoin. Currently, the token trades at approximately $42, marking an 8.7% increase over the past 24 hours, according to PRIME’s price data.
The rapid rise and high-profile launch of the TRUMP memecoin reflect its significant impact on both the cryptocurrency market and broader policy discussions. As the Trump administration continues to embrace cryptocurrency, this new development may serve as a key moment in shaping the future of digital assets and their role in the global financial landscape.
