Prior to his inauguration, President Donald Trump mainly dismissed inquiries about launching the $TRUMP memecoin, which would have increased his personal wealth by billions of dollars.


Trump acknowledged launching the memecoin in response to a reporter's inquiries about it, but he denied knowing much about it and said he had personally profited from its success.

During a White House event on Tuesday, Trump stated, "I don't know about benefited, I don't know where it is, I don't know much about it other than I launched it, I heard it was very successful."

Trump remarked, "several billion?," in response to a reporter who informed him that he had earned "several billion dollars" from the memecoin. For these individuals, that's peanuts," though it wasn't immediately apparent to whom he was referencing.

Just a few days prior to Trump's inauguration on Monday, $TRUMP was introduced to traders with great enthusiasm last week. Trump, a significant holder, made billions of dollars in paper gains when the token's market value soared to over $14 billion at its peak.

But amid accusations that Trump had sold some of his assets, the memcoin fluctuated sharply in erratic trading, prompting some concerns about possible price manipulation.

Following its introduction, $TRUMP surged to a height of almost $80 before leveling down at $41.

However, the popularity of the memecoin and the later, less well-received introduction of $MELANIA raised questions among traders about the morality of Trump using his power to influence speculative markets in his favor.

Additionally, Trump barely mentioned crypto policy during his first two days in office, which dampened expectations that he would issue pro-crypto executive orders right away.


In erratic trading, Bitcoin, which had risen to all-time highs of nearly $109,000 before Trump's inauguration, fell from these highs. Following the introduction of $TRUMP, there was also a rise in volatility in broader cryptocurrency markets.