Days before his inauguration, President Donald Trump unveiled his own cryptocurrency called $TRUMP. The move raised eyebrows among experts in the field as it may entail a conflict of interest or undermine the adoption of the emerging technology.

Sean Sanders, a CFA Charterholder and CEO of Altify (FSP no. 53289) notes, “To put this into perspective, the $TRUMP meme coin has consistently generated more than three times the daily trading volume of the Johannesburg Stock Exchange (JSE), which averages $1.43 billion.

Meme coins have become a significant part of the cryptocurrency landscape, blending humor, community engagement, and speculative trading. These tokens, often inspired by internet culture, started with Dogecoin and have now expanded into a wide variety of coins that dominate discussions across crypto communities.

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.

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 memecoin, which launched on January 17,