Donald Trump’s TRUMP memecoin has pulled in at least $11.4 million in fees for entities tied to the president, according to a Jan. 28 report from Bloomberg.

The driving force behind meme coins and why the launch of Donald and Melania Trump meme tokens sparked an outcry.

The world of meme coins is exploding right now, with cryptocurrency enthusiasts flocking to the latest tokens that promise massive returns and wild growth. Among the notable contenders are Arctic Pablo (APC),

President Donald Trump’s goodwill in the cryptocurrency industry has taken a hit after he and his wife launched meme coins — a move critics say looks like an unseemly cash grab that undermines an effort to legitimize digital assets.

Cryptocurrency fans may have gotten more than they bargained for when the president and his wife launched a pair of tokens last week.

Crypto analysts report 6,800 fraudulent tokens and 91 fake dApps since $TRUMP made its $72 billion debut, as reported by Crypto News. The coin, which President Trump admitted himself that he “didn’t know much about,” was launched to great success, achieving a market cap of $72 billion 48 hours before its launch.

President-elect Donald Trump has launched a new cryptocurrency token that's soaring in value and potentially boosting his net worth.

Donald Trump’s namesake memecoin has likely generated at least $11.4 million in fees for entities linked to the president since its launch just before his second inauguration, according to an analysis by the crypto risk modeling firm Gauntlet.