Trump’s pro-crypto policies ignited Bitcoin’s surge past $100K and unleashed memecoin mayhem with TRUMP and Melania tokens. Dive into this captivating mix of politics, profits, and crypto casino drama.
A large part of Trump’s election campaign focused on promoting that he and the Republican Party were pro-cryptocurrency. They promised the digital asset sector that they would protect individuals' rights to mine, invest in, and own Bitcoin and other cryptocurrencies free from governmental overreach.
He would back this claim by producing policy documentation that would become effective once he was installed as the US President. Still, even more importantly, he launched a funding campaign that saw him as the hero of a range of $99 NFT art collectables and a range of real-world bonuses and rewards, including a custom sneaker range.
Not only did this courting of the technology sector pay dividends in terms of his broader public perception, but it helped him raise a sizeable sum of money. At the time, he netted over $2.1 million in sales and more than $2 million in royalty fees.
The promised legislation and campaign connection with digital assets caused a hike in the price of Bitcoin, which became known as the Trump Bump. The Trump Bump pushed Bitcoin to a new high of more than $87,000. It also set in motion a series of events and elevated market trust that saw the marketing-leading token soar past $100,000 BTC by December 2024.
He would share his view on America’s role in the crypto space, saying:
"I'm laying out my plan to ensure that the United States will be the crypto capital of the planet and the bitcoin superpower of the world,"
In addition to evangelising the right to private crypto ownership, Trump was vocal about the USA creating a strategic Bitcoin reserve as part of its federal financial planning program.
An early version of the idea mandated that the government limit its acquisition to 200,000 BTC. It also required the government to hodl the tokens for two decades to avoid accusations of it being the world’s biggest pump-and-dump scheme.
The one form of cryptocurrency which does not have the support of the president and his cadre is Central Bank Digital Currencies (CBDC). The Biden/Harris camp had begun to make noise about implementing a federally approved CDBC, but it was less about showing support for the tech sector and more about tracking where Americans are keeping their money and how they are spending it.
As part of Trump's less invasive stance on personal wealth and government oversight, he claims that CBDCs would ultimately see America lose control over its assets, allowing the government to press a button and lockdown the wealth families have worked generations to accumulate.
In keeping with his promise to promote a private-sector-driven crypto economy, Trump signed an executive order on January 26, 2025, banning the creation and issuing of a federal CBDC, locally and internationally.
It is indisputable that the new president has positively impacted the broader crypto market. This is excellent news for investors and crypto casino fans as tokens continue to hold their boosted value.
The First Family have, however, come under scrutiny for their involvement with the memecoins. While they began as fun social protests, memecoins have recently been at the epicentre of celebrity rug pulls, which has soured public sentiment.
The official Trump memecoin, $TRUMP, launched on 17 January 2025 with a total supply of 1 billion tokens. At the time, its market capitalisation reached a staggering $12 billion, driving incredible value to the Solana (SOL) network.
The hype surrounding the president's pro-crypto stance, favourable public opinion, and the chance to capitalise on a hot new coin saw it climb to a $15 billion market cap within its first 48 hours. This surge in value was assisted by its rollout to popular crypto exchanges Coinbase, Binance, and Robinhood.
Despite peaking at over $70, the token has retreated to a relatively sustainable position of around $30 per coin.
He did face minor backlash in the media for appearing to distance himself from the token, claiming:
“I don’t know where it is. I don’t know much about it other than I launched it, other than it was very successful.”
As a 78-year-old man, with the mantle of POTUS recently placed upon his shoulders, it's not a stretch to believe he isn’t involved with the day-to-day running of a memecoin, even if it bears his name.
The real Trump family memecoin drama centred around Melania Trump's memecoin launch. Let’s be honest, Donald is a larger-than-life character, and his memecoin was expected.
However, having the First Lady launch her token within 48 hours of her husband's coin raised some eyebrows and rightly so, since the $Melania token launch saw investors dump Trump and shift funds to her coin. As expected, the Melania token surged in value for 24 hours, peaking at just under $14 per coin.
This coin's lopsided tokenomics made investors nervous to stick around. It was revealed that approximately 90% of its assets are owned by a single account. This is a rug pull red flag, as a spike in value is easily abused when one account holds so much of a token's liquidity.
With no real momentum other than that it gained off the Trump coin launch, the Melania token crashed to under $4 and today is trading at about $2.50.
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