President-elect Donald Trump and incoming First Lady Melania Trump triggered a meme coin frenzy over the weekend, surprising the cryptocurrency industry and leaving many to wonder about their motives.
What happened: The launch of the OFFICIAL TRUMP token created a stir in the market, as the coin’s fully diluted valuation reached a whopping $74 billion at one time, according to CoinMarketCap.
The project’s official website stated that CIC Digital LLC, an affiliate of The Trump Organization, and a related entity, Fight Fight Fight LLC, own an 80% share of the digital asset.
At the current price of $53.69, that coin was worth $53.74 billion, …
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