President-elect Trump has launched his own crypto token called Trump coin. In less than 24 hours, the coin has had a 12,000% gain and has seen billions in trading volume.

Cryptocurrency industry leaders, which donated heavily into the 2024 elections, have contributed millions to President-elect Donald Trump’s inauguration fund, and threw a star-studded gala to celebrate his second administration.

Despite the competitive memecoin market, the “Official Trump” (TRUMP) token quickly reached a $6.9 billion market capitalization. It was immediately listed on major exchanges, including Bybit, Bitget, and KuCoin. The memecoin launched with 200 million tokens in circulation and a total supply of up to 1 billion, with 80% allocated to the issuers.