Cryptocurrencies
Trump’s Volatile New Memecoin Sucks Flows, Saps Wider Crypto Market
- The new Trump token at one point hit some $15 billion in value
- Many other coins fell as Trump’s launch hogged the spotlight
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A digital token debuted by President-elect Donald Trump has rattled the cryptocurrency market, attracting billions of dollars of trading volume while stoking concerns about conflicts of interest.
Trading under the “Trump” ticker on the Solana blockchain, the token’s market value surged to $15 billion over the weekend, data from CoinMarketCap show, after the Republican touted it on his social media accounts on Friday.t