During a press conference on the morning of January 22, 2025, President Donald Trump officially shared his thoughts on the TRUMP memecoin, which he launched—a phenomenon that has shaken the crypto market in recent days.
I don’t know much about it, other than the fact that I agreed to launch it. I’ve heard it’s very successful, but I haven’t looked into it further.
President Trump said during a discussion with SoftBank founder Masayoshi Son, OpenAI CEO Sam Altman, and Oracle chairman Larry Ellison.
When informed about the “several billion-dollar” market capitalization of the TRUMP token, the U.S. President humorously replied:
Several billion dollars? That’s just pocket change for the gentlemen here!
referring to the billionaires participating in the discussion.
Launched on January 18 on the Solana blockchain, the TRUMP token has created an unprecedented craze. Within just 48 hours, its market capitalization skyrocketed to nearly $15 billion, setting a new growth record in memecoin history.
However, the Trump family’s decision to release the MELANIA memecoin just two days later sparked backlash from the community. Many investors criticized the move, claiming it was intended to “dilute” the value of the original project for profit.
Notably, during the same event, President Trump, along with leaders from SoftBank, OpenAI, and Oracle, announced the Stargate project—a $500 billion joint venture to develop AI infrastructure.
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The price of the TRUMP token previously dropped by more than 30% after President Trump’s first day in office when he failed to provide specific crypto policies. However, following his latest remarks about the memecoin bearing his name, the market has shown signs of positive recovery.
