On the eve of his inauguration, President-elect Donald Trump has introduced a new cryptocurrency token.
As The Associated Press (AP) reported Sunday (Jan. 19), the new meme coin has soared in value — above $15 billion according to some accounts — potentially raising Trump’s net worth even further and raising questions about his violations of White House norms.
“It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community,” Trump wrote in a social media post promoting the new tokens. These coins were advertised with a picture of Trump holding a fist up superimposed over the words “FIGHT FIGHT FIGHT,” a reference to Trump’s response to the attempt on his life at a political rally in Pennsylvania last summer.
In promoting the coin, Trump told supporters to “Have Fun!” The AP said the website selling the tokens said they are designed to be expressions of support, not an investment opportunity.
However, the report said, people are still hoping to cash in, with the coins — which began selling at $10 each — reaching $70 by Sunday morning.
As the report noted, some crypto advocates have hailed the launch of the coin, calling it a symbol of Trump’s support for their industry after years of regulatory crackdowns under President Biden. Trump has promised to be a more crypto-friendly chief executive, naming industry enthusiasts to his cabinet.
Critics, meanwhile, argue that the meme coin could allow special interests and foreign governments to try to buy influence with the president, the report added.
According to The Daily Beast, a Trump Organization affiliate known as CIC Digital and a related firm managing the launch, Fight Fight Fight LLC, own roughly 80% of the memecoin.
These investors’ holdings will unlock over a three-year period, with 200 million tokens available straight away and 1 billion in circulation over the next three years, the report said.
“The public’s gonna get wrecked and obviously the people that are going to make the most money are the insiders,” Stephen Findeisen, a cryptocurrency journalist and commentator, said in a video Saturday.
The price of bitcoin, the most popular cryptocurrency, continues to approach record levels ahead of the inauguration.
Trump is expected to issue an executive order soon after taking office designating cryptocurrency as a national priority. It would also instruct government agencies to work closely with the crypto industry, and establish a crypto advisory council that will push for the industry’s policy priorities.
Earlier this month, Ripple CEO Brad Garlinghouse noted a “Trump bull market” in a post on X, saying his company signed more deals in the six weeks following the election than it signed in the prior six months.
“2025 is here and the Trump bull market is real,” Garlinghouse wrote.