Cryptocurrencies
Trump’s Memecoin Creates Billions From Thin Air Before DC Return
- Speculators push new Trump token to $5.6 billion market value
- Watchdogs see it as the president-elect’s latest ethics breach
Donald Trump
Photographer: Allison Robbert/AFP/Bloomberg
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In tuxedos and floor-length gowns, crypto executives and adherents spilled through the Andrew W. Mellon Auditorium in Washington on Friday, ready to toast the inauguration of Donald J. Trump — a leader who promises to become the most crypto-friendly US president.
“The reign of terror against crypto is over,” roared David Sacks, the venture capital executive appointed as Trump’s crypto czar.