Newly Inaugurated President of the United States, Donald Trump, commented for the first time on the trending $TRUMP memecoin calling it a success.
Donald Trump commented on the memecoin launched via his official X page while responding to reporters in the white house yesterday.
The $TRUMP memecoin launched on Jan 17 surged for $3 to as high as $74 in two days hitting a market capitalization of $8 billion and making the Top 20 cryptocurrencies by Market Capitalization.
The President told the reporters that he doesn’t have details on the memecoin and doesn’t know whether it benefitted him. He however said he was told it was a success.
Trump was quizzed on whether he intends to continue selling products that benefit him as the President following the launch of his memecoin.
“ Well I don’t know if it benefitted, don’t know where it is. I don’t know much about it other than I launched it and heard it was very successful. I haven’t checked it. Trump Said
The $TRUMP meme was heading for the $100 price level the day after its launch. The rally was disrupted by the launch of his wife’s memecoin $Melania which led to liquidity flowing out of $TRUMP and into $Melania.
At the time of the report, $Trump is exchanging hands for $41.68 surging by 6.8% in the last 24 hours. $Melania on the other hand is trading for $3.95 down by 13.03% in the last 24 hours.
Trump Makes Another Pro Crypto Appointment
The Donald Trump administration is taking shape with more appointments made with each passing day. The former Chairman of the Securities and Exchange Commission Gary Gensler stepped down on Jan 20 leaving the seat vacant.
The Vacancy was occupied by the new acting chairman of the SEC Mark T. Uyeda who was appointed by Donald Trump yesterday.
Uyeda has served as an SEC commissioner since 2022 and has been part of the agency’s staff since 2006.
He hit the ground running by setting up a crypto task force tasked with coming up with a robust and innovation-friendly regulatory framework for the crypto industry.
Uyeda appointed Commissioner Hester Peirce, known for her support of cryptocurrencies and advocacy for clearer regulations in the sector.
Hester Peirce is a familiar name in the crypto space and goes by the moniker “Crypto Mom”.
In an interview with Coinage founder and Host last year, Hester Peirce explained that she wished to see a crypto industry where SEC regulations are not the mainstay of crypto events and conventions.
