Donald Trump's newly launched cryptocurrency, $TRUMP, saw a meteoric rise in value, climbing to approximately $10.7 billion in market capitalization as trading volume spiked.
The digital asset's surge aligns with optimism in the cryptocurrency market coinciding with Bitcoin's all-time high and expectations of deregulation under the new administration.
Trump's entry into cryptocurrency is being supported by his family, who have launched various initiatives in the digital currency sector, including their DeFi platform.
The $TRUMP token is primarily controlled by CIC Digital LLC, closely tied to the Trump Organization, indicating a significant consolidation of ownership in a new crypto venture.
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