President-elect Donald Trump has introduced a new cryptocurrency token named $TRUMP, leading to significant ethical debates. Launched just days before his inauguration, the token's market capitalization surged to over $5 billion, with trading volumes exceeding $11 billion. The Trump Organization, through CIC Digital LLC, retains 80% of the token supply, potentially augmenting Trump's net worth by tens of billions.
Critics argue that this venture blurs the line between Trump's governmental role and personal business interests. Adav Noti, executive director of the Campaign Legal Center, stated, "It is literally cashing in on the presidency — creating a financial instrument so people can transfer money to the president’s family in connection with his office."
Despite the controversy, some in the cryptocurrency community view the initiative as a potential boost for the industry. Notably, major exchanges like Binance, Coinbase, and Kraken have listed the $TRUMP token, indicating significant market interest.