As the day of the US presidential inauguration dawned, Bitcoin hit an all-time high and pushed $110K, but this was eclipsed by the biggest story of the weekend: Donald Trump launched an official memecoin. That’s right, mere days before becoming US president once again, Trump launched a Solana-based memecoin, TRUMP, and it hit a market cap of $15 billion within 48 hours, breaching the top 15 cryptocurrencies. The move shocked people inside and outside of crypto, and we were left to wonder what it might mean for crypto taxes in the US, for regulations and even whether Trump might have violated the US Constitution. So, in today’s special episode, I break down the entire fiasco ahead of the inauguration.
Further reading:
- What the release of Trump's memecoin signals for crypto regulations
- TRUMP memecoin hits top 15 worldwide in 48 hours, sparking tax cut rumors
- Official Trump memecoin captures crypto market trading volume as Bitcoin prepares for new highs
- ‘Buy crypto’ and ‘Solana’ search volumes surge amid TRUMP meme frenzy
- Donald Trump’s memecoin drops 38% as wife Melania launches token
- Trumps accused of greed, grifting with back-to-back memecoin launches
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