The coin’s market value has surged to about $US5.6 billion, meaning a massive possible windfall for Trump-linked entities that own most of it.
In tuxedos and floor-length gowns, crypto executives and adherents spilled through the Andrew W. Mellon Auditorium in Washington on Friday , ready to toast the inauguration of Donald Trump – a leader who promises to become the most crypto-friendly US president.
Critiques of Trump’s family real estate business — including spending by foreign companies and special interest groups at its properties — trailed him through his first term. More recently he’s pushed Trump-branded non-fungible tokens. “The clear difference with crypto is how quickly you can have a windfall,” said Kedric Payne, general counsel at the Campaign Legal Centre.The meme coin further enmeshes the Trump family in an industry his administration will be responsible for regulating.
Trump and his sons Donald Trump Jr. and Eric Trump have also been promoting a crypto platform called World Liberty Financial, in which they have financial ties.
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