President-elect Trump launched a Solana-based memecoin named Official Trump (TRUMP) on January 17, 2025, with its market capitalization surging to over $32 billion within a day. This move indicates a significant shift in regulatory perspectives towards crypto under the upcoming Trump administration, aiming to foster growth and innovation domestically rather than being influenced by other countries. However, potential legal challenges arise, including concerns about violations of the Foreign Emoluments Clause due to the token's accessibility to foreign buyers. Additionally, the memecoin's launch came during a high-profile event in Washington, D.C., which contributed to initial skepticism but later gained traction following the endorsement from the Trump family. Since its launch, TRUMP experienced a massive price increase of over 12,500% before settling around $27 after a brief decline.

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