Crypto Allegedly Associated With Donald Trump Shoots Up To $150M In Market Cap â€” A New Strategy For The Presidential Race?

Crypto Allegedly Associated With Donald Trump Shoots Up To $150M In Market Cap — A New Strategy For The Presidential Race?

Aniket Verma

June 17, 2024

Former President Donald Trump is rumored to be directly stepping into the cryptocurrency world with a new token, “Trump Coin“, as he ramps up his campaign for the upcoming November presidential election.

What Happened: A meme token registered on the Solana (CRYPTO: SOL) blockchain platform under the symbol DJT and named “Trump Coin” has sparked industry speculation. The token shares its symbol with Trump’s social media platform, Truth Social, reported Fox Business on Monday.

The token started trading on Solana on Monday evening with a market cap of $73 million. With the buzz around the coin intensifying, its market cap shot up to nearly $150 million as of this writing, according to cryptocurrency trading data tool Birdeye.

Trump’s press team didn’t immediately respond to Benzinga’s request for comment on the matter.

When asked about the Trump Coin launch, former GOP presidential candidate and adviser to President Trump, Vivek Ramaswamy, stated, “I'm glad President Trump and his campaign are leaning into cryptocurrency, including accepting it – he's ahead of the curve.”

Why It Matters: Trump Coin is the latest in a series of meme coins inspired by political candidates this election cycle. Other non-affiliated Trump meme tokens are trading in the cryptocurrency landscape, including the popular MAGA Coin (CRYPTO: TRUMP) with a market cap of upwards of $340 million at press time.

Trump’s potential foray into cryptocurrencies comes after a significant shift in his stance on the asset class. Last month, he expressed his support for cryptocurrency on the campaign trail, a drastic change from his previous disinterest in the token in 2021.

Read Next: El Salvador’s President Bukele Proposes Bitcoin Bank To Attract Billions

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Recommended

Biden Debate Disaster! - Ad

Ex-CIA Insider Exposes How Dems Could Rig the Election - Ad

The Tiny Tech Disrupting the $28.4B Hospital Infection Epidemic - Ad

According to a recent poll, a majority of voters have expressed their belief that President Joe Biden should be replaced as the Democratic candidate.

Ex-Colleagues Of Judge In Donald Trump's Hush-Money Case Say Former President Will Most Likely Face This Sentence

Former New York City judges weigh in on potential sentencing outcomes for former President Donald Trump.

Elon Musk's Crazy New Experiment...REVEALED

Elon Musk's Crazy New Experiment...REVEALED - Ad

On January 28th of 2024... Elon Musk launched a crazy AI experiment involving a real human in California. Elon already invested $100 million of his own money into this AI project... Because he knows the profits here could be ridiculous.

Assault on US avocado inspectors in Mexican state led to suspension of inspections

MEXICO CITY (AP) — Two employees of the U.S. Agriculture Department were assaulted and temporarily held by assailants in the Mexican state of Michoacan, prompting the U.S. government , the U.S. ambassador to Mexico said Tuesday.

XPeng's Flying Car Takes Off In China, Aims For Commercialization By End Of The Year

China's XPeng Inc. successfully showed off its flying car, the X2, at a trade fair, signaling a push towards commercialization in the low-altitude economy.

America's 'Silent Invasion' - Is Your Town in the Crosshairs?

America's 'Silent Invasion' - Is Your Town in the Crosshairs? - Ad

A silent invasion is happening all over America. It has nothing to do with the border but will end with even more disastrous results. Why? A faceless entity is coming by air, rail, port, and highway. What does it mean for you and your money? There's still time to prepare, but you must act today.

Tesla Model 3 Long Range Now Qualifies For Full $7,500 Tax Credit

Tesla Inc (NASDAQ: TSLA) announced the new Model 3 Long Range (LR) now qualifies for the full $7,500 federal tax credit in the

Will Your iPhone Support New Apple Intelligence Features? Here's What You Need To Know

Apple has announced a suite of AI-powered features for iPhones, calling it Apple Intelligence. However, these features will be limited to select iPhones.

Wall St. Legend: Millions of Americans About to Fall Out of the 1%

Wall St. Legend: Millions of Americans About to Fall Out of the 1% - Ad

Wall Street insider reveals the financial tidal wave about to knock millions of Americans out of the One Percent. Predicts it will be far worse for everyone else. Warns EVERYONE to seek higher ground now!

Michael Dell Says Generative AI Tech Wave Sweeping In Much Faster Than Early Internet: 'It's Happening Maybe 10 Times Faster'

Michael Dell, CEO of Dell Inc., compared the rise of generative AI to major technological advancements like the internet, noting its rapid adoption and significant impact on the global market.

Why Alibaba Stock Could Rally: Golden Cross In Sight

Alibaba is nearing a bullish Golden Cross, with strong AI and cloud ambitions, despite facing competition and bearish momentum. Solid business, attractive valuation, and potential uptrend signal future growth.

Expert: The Most Important Message You'll See in 2024

Expert: The Most Important Message You'll See in 2024 - Ad

In short, America is being invaded...The invasion spreading across America is coming from the ports, highways, and railroads. AND it's being invited in by the White House. Many will be blindsided, but if you prepare today, you could come out far ahead.

Judges hear Elizabeth Holmes' appeal of fraud conviction while she remains in Texas prison

SAN FRANCISCO (AP) — A panel of federal judges spent two hours on Tuesday wrestling with a series of legal issues raised in an attempt to overturn a fraud conviction that sent Theranos CEO Elizabeth Holmes to prison after a meteoric rise to Silicon Valley stardom.

Visa's Mark Nelsen wants to make your plastic credit card obsolete

Mark Nelsen, Visa’s global head of consumer payments, sees a world where the plastic card in your wallet becomes increasingly obsolete and the standard 16-digit account number becomes worthless.

Wall Street Legend on Economy: "If you knew what I know, you'd be terrified too."

Wall Street Legend on Economy: "If you knew what I know, you'd be terrified too." - Ad

Something huge is headed to America's shores -- and it scares the hell out of Wall St. legend Louis Navellier. When it makes landfall, its impact will be more violent and more severe than any financial crisis we've ever seen... "No matter how prepared you think you are, you aren't prepared enough," he warns.

US Supreme Court refuses to take up challenge to Florida's online sports betting compact

FORT LAUDERDALE, Fla. (AP) — The U.S. Supreme Court on Monday refused to take up a challenge to exclusive rights to handle online sports betting in Florida, dealing a blow to the deal's opponents.

WonderFi Transforms Market With Launch Of Institutional Crypto Service Coinsquare Alpha

WonderFi delivered on its promise to attract institutional investors this week by launching Coinsquare Alpha.

The Mysterious Tale of "America's No. 1 Retirement Stock"

The Mysterious Tale of "America's No. 1 Retirement Stock" - Ad

This factory of 53,000 employees, in Burbank, CA, was camouflaged to look like a sleepy suburb (with the help of artists, set designers, and painters from nearby Hollywood movie studios). The mysterious company behind this disappearing act is now being called "America's No. 1 Retirement Stock".

The US fines Middle Eastern airline Emirates $1.8 million for flights that passed too low over Iraq

WASHINGTON (AP) — The Transportation Department said Thursday that it fined Middle Eastern $1.8 million for flights in regions off-limits to U.S. airlines while it allowed JetBlue Airways to sell seats on the planes.

Boeing Insists On Adherence To Legal Agreement Post-737 MAX Crashes: Report

Boeing reportedly maintains it adhered to a 2021 agreement aimed at avoiding prosecution after the 737 MAX incidents, countering U.S. claims of non-compliance. The company's commitment to transparent engagement highlights its efforts to navigate legal complexities ahead of the Justice Department's crucial July 7 decision on extending prosecution terms.

After Conviction, There Could Be More Bad News for Trump

After Conviction, There Could Be More Bad News for Trump - Ad

Former advisor to the CIA, the Pentagon and the White House Jim Rickards just dropped this Trump election bombshell. For the sake of our country...I hope he's wrong. Because if he's right, you need to prepare now.

Nvidia Is 'At The Center' Of Something 'Really Big,' Says Expert As Jensen Huang-Led Chip Giant Beats Microsoft, Apple To Become World's Most Valuable Company

Nvidia's stock has been on a roll since the beginning of the year, outperforming the majority of the market.

Ecuador stops waiving visas for Chinese nationals because of an increase in irregular migration

QUITO, Ecuador (AP) — Ecuador on Tuesday announced the suspension of an agreement with China that had waived visas for Chinese citizens traveling to the South American country, citing a “worrying” increase in irregular migration.

Your Second Chance to Profit from AI

Your Second Chance to Profit from AI - Ad

If you missed out on Nvidia, don't worry. A 244-year-old pattern is about to trigger a $25.6 trillion AI surge... And send three overlooked stocks soaring 1,000%+

Biofuel groups envision ethanol-powered jets. But fueling the effort has not been easy

MENOKEN, N.D. (AP) — Some day, the passenger jets that soar 35,000 feet (10.6 kilometers) over Dan McLean’s North Dakota farm could be fueled by corn grown on his land and millions of other acres across the Midwest.

Sprint great Michael Johnson launching 'Grand Slam Track' league with $100K first prizes

Sprinting great Michael Johnson is launching a track league that looks to assemble nearly 100 of the sport's top performers four times a year to compete for $12.6 million in prize money over its first season.

AI Alert: Wealth Window Update

AI Alert: Wealth Window Update - Ad

I'm James Altucher, AI expert at Paradigm Press. On June 25, tech giants like Nvidia, Dell, and Alibaba could reveal "AI 2.0." This limited wealth-building window could turn $10k into $1 million with strategies I've perfected over 40 years. Act fast before everyone catches on!

Biden Vs. Trump Showdown Set To Be Tight Race As Double Haters Swell To Highest Level In At Least 3 Decades: Poll

Americans may have to choose from the better of the two evil, going by their dispositions toward the two presumptive candidates in the fray for the 2024 election.

Martha's Vineyard is about to run out of pot. That's led to a lawsuit and a scramble by regulators

VINEYARD HAVEN, Mass. (AP) — An 81-year-old woman on Martha's Vineyard drove up to the Island Time dispensary last week seeking her usual order of pot. But owner Geoff Rose had to tell her the cupboard was bare — he'd been forced to temporarily close three weeks earlier after selling every last bud and gummy.

Collect 10%+ Dividends From AI's Explosive Growth?

Collect 10%+ Dividends From AI's Explosive Growth? - Ad

This one-of-a-kind fund is set to pay out a tsunami of profits to shareholders... Giving you the chance to collect 10%+ dividend yields, year after year! In his brand-new "AI Income Playbook," Marc Lichtenfeld gives you the full scoop on this breakthrough fund... Including its name, ticker symbol, and profit potential.

AES' Kuihelani Facility: Biggest Solar Plant In Hawaii Flips the Switch on Clean Energy

The AES Corporation's AES Hawaii launched the Kuihelani Solar-plus-Storage facility, generating 60MW of renewable energy and reducing Maui's reliance on fossil fuels.

American investor Martin Shkreli accused of copying and sharing one-of-a-kind Wu-Tang Clan album

NEW YORK (AP) — American investor Martin Shkreli is facing a new lawsuit for allegedly retaining and sharing recordings from a one-of-a-kind Wu-Tang Clan album that he was forced to sell following his 2017 conviction on .

Don't Pay a Dime for Marc Lichtenfeld's Top AI Picks

Don't Pay a Dime for Marc Lichtenfeld's Top AI Picks - Ad

Marc Lichtenfeld's has a brand-new "AI Income Playbook", absolutely FREE! Inside, you'll find Marc's favorite AI dividend stocks... Poised to profit from the fastest-growing technology in history... and pay you bigger and bigger cash dividends along the way! And it's all yours, free of charge.

Musk Urges Tesla Shareholders To Vote, Says Too Much Of The Stock Market Is Controlled by ISS And Glass Lewis: 'Zero Economic Alignment With Actual Shareholders'

Tesla Inc (NASDAQ: TSLA) CEO Elon Musk is urging shareholders to cast their votes on their shares by offering them an opportunity to win a personal tour of the company's Texas facility.

Rockstar Games Co-Founder Reveals Why GTA Movie 'Never Made Sense'

Dan Houser explains why a Grand Theft Auto movie "never made sense," highlighting the huge risks and lack of creative control involved.

This Billionaire's Final Masterpiece: "X-9840"

This Billionaire's Final Masterpiece: "X-9840" - Ad

The investment legend who predicted the rise of Bitcoin, Facebook and streaming services like Netflix... Just released the details on what he's calling Project X-9840. This business mogul is now set to revolutionize MONEY. He has said he could flip the switch "as early as mid 2024."

Wall Street's Most Accurate Analysts Weigh In On 3 Energy Stocks With Over 6% Dividend Yields

During times of turbulence and uncertainty in the markets, even when markets are at all-time highs, many investors turn to dividend-yielding stocks.

Workers sue Disney claiming they were fraudulently induced to move to Florida from California

ORLANDO, Fla. (AP) — Disney workers are suing their employer, claiming they were fraudulently induced to to work in a new office campus only to have those plans later scrapped amid a fight between the entertainment giant and Florida Gov. Ron DeSantis.

The 7th Trillion Dollar Company?

The 7th Trillion Dollar Company? - Ad

There are six American companies worth over $1 trillion. Could there be a seventh soon? This company signed a massive deal with Apple until 2040 and is also involved with Nvidia, Google, and Samsung. Could this be the next trillion-dollar company? A top stock expertpicker thinks so.

Nike Analysts Sour On Retailer's Short-Term Prospects Following Poor Outlook: 'No Quick Rebound'

Nike shares plummet after weak revenue numbers and lowered guidance. Analysts have mixed opinions, with some seeing a long-term play and others disappointed by lifestyle category trends.

Trending Now