Donald Trump launched a crypto MEME COIN… THIS IS INSANE!

Donald Trump's Meme Coin Launch

• Donald Trump launched a meme coin with a current market cap of $12-13 billion
• The coin is tradable on limited exchanges and can be bought with Venmo or Apple Pay on Trump's website
• The launch was stealthy, with almost no one aware of it at the Crypto Ball event where it was launched

Background

• The launch was announced by David Sacks at the Crypto Ball in Washington, where Trump's support for crypto was declared
• Eric Trump confirmed the launch and expressed pride in the project, believing it will revolutionize DeFi and CeFi

Reactions

• Some people think it's a scam, with 80% of the coins owned by the Trump camp and only 20% available to the public
• Others are excited, seeing it as a major opportunity with Trump's support
• Coffeezilla criticized the distribution, calling it "historic in its stupidity" and a "grift"

Token Details

• 80% of the coins are owned by insiders, with a 3-12 month lockup duration
• The tokens will be unlocked over 24 months, potentially diluting the coin's value
• The allocation is unclear, with six groups labeled as "creators" and "CIC Digital" with no further description

Potential Implications

• This could be the start of a new trend in crypto, with other celebrities and companies launching their own coins
• It could lead to a super cycle in crypto, with a potential dot-com bubble-like bust
• The launch has already generated significant interest and investment, with millionaires being minted and a potential bull run in 2025.