Trump’s reported cryptocurrency winnings have dropped to $8 billion.
Following his apparent disassociation with the $7 billion market cap token that was introduced on January 18, Donald Trump’s meme coin, $Trump, is currently declining. Soon after he made his remarks on the profits early on Wednesday, the coin dropped from $48 to $39. This was a nearly 19% decline.
In response to a question about whether cryptocurrency will continue to help him personally, Trump told reporters at a press conference, “I don’t know if it benefited, I don’t know where it is, I haven’t checked it, but I heard it was very successful.”
Regarding the coin’s estimated value of many billions of dollars during the past few days, Trump remarked, “Several billions are peanuts for these guys,” alluding to investments made by tech firms like Oracle, Open AI, and SoftBank that were in attendance at the press conference.
The value of the $Trump coin dropped by about 60% from its peak of $74 on January 19 with a market size of around $15 billion to $31 on January 21 morning with a market cap of $6.2 billion. According to data from Coinmarketcap.com, the currency had returned to $37.2 in price and $7.4 billion in market capitalization at the time this piece was written.
Additionally, according to the crypto intelligence platform Arkham, Trump’s reported gains on his cryptocurrency assets have decreased from $23 billion on January 18 to $8 billion.
The coin was unannounced when it was first created on January 17, 2025, a few days before Trump’s inauguration. It operates on the Solana blockchain. Even though Trump subsequently reaffirmed its legitimacy on social media, this had initially raised doubts about its veracity.
Of the 1 billion tokens in the $Trump supply, 200 million were made available during the initial coin offering (ICO). The remaining 800 million tokens, or 80% of the overall supply, are held by two Trump-owned companies, CIC Digital LLC and Fight Fight Fight LLC.
The Securities and Exchange Commission (SEC) established a “crypto task force” on Tuesday to establish a regulatory framework for cryptocurrencies in the US as part of the initial efforts to legitimize them. The action was taken to support innovation in the cryptocurrency market and safeguard cryptocurrency investors.
FAQ
The $Trump coin is a cryptocurrency operating on the Solana blockchain. It was unannounced at the time of its creation on January 17, 2025, just days before Donald Trump’s inauguration. Of its 1 billion total supply, 200 million tokens were offered during the initial coin offering (ICO), while the remaining 800 million are held by two Trump-owned companies.
The $Trump coin peaked at $74 with a market cap of approximately $15 billion on January 19. However, its value dropped by about 60% to $31 with a $6.2 billion market cap on January 21 morning. As of the latest update, the coin’s price recovered slightly to $37.2, with a market cap of $7.4 billion.
At a press conference, Trump appeared indifferent, stating he hadn’t checked on the cryptocurrency but heard it was “very successful.” He downplayed the billions in value, calling them “peanuts” compared to investments by major tech firms like Oracle and SoftBank.
According to the crypto intelligence platform Arkham, Trump’s reported cryptocurrency gains have decreased from $23 billion on January 18 to $8 billion as of now.
The Securities and Exchange Commission (SEC) recently established a “crypto task force” to create a regulatory framework for cryptocurrencies in the United States. The initiative aims to promote innovation in the crypto market while ensuring investor protection.
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